Micron Technology (NASDAQ:MU) Stock Price Up 1.1% - What's Next?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares shot up 1.1% during trading on Thursday . The company traded as high as $96.45 and last traded at $96.87. 3,757,105 shares changed hands during trading, a decline of 84% from the average session volume of 23,412,218 shares. The stock had previously closed at $95.84.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group decreased their target price on Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Wall Street Zen cut Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Barclays reduced their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.48.

Micron Technology Price Performance

The business's fifty day moving average price is $82.82 and its 200 day moving average price is $92.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a market cap of $104.35 billion, a P/E ratio of 26.91 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the business earned $0.42 EPS. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,808 shares of company stock valued at $1,858,424. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the business. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at about $26,000. Beacon Capital Management LLC lifted its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the first quarter worth $33,000. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at $33,000. Finally, Roxbury Financial LLC grew its stake in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.