Micron Technology (NASDAQ:MU) Trading Up 1.2% - Time to Buy?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shot up 1.2% during trading on Monday . The stock traded as high as $115.71 and last traded at $115.75. 6,275,465 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 23,271,392 shares. The stock had previously closed at $114.39.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Morgan Stanley boosted their price target on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. TD Cowen increased their price objective on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Robert W. Baird boosted their target price on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Finally, KeyCorp raised their price target on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and an average price target of $146.44.

Micron Technology Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a fifty day moving average of $111.39 and a 200 day moving average of $97.08. The stock has a market cap of $126.72 billion, a price-to-earnings ratio of 20.40 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology's dividend payout ratio is presently 8.29%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the sale, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Large investors have recently modified their holdings of the stock. Sunbeam Capital Management LLC bought a new stake in Micron Technology in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology in the first quarter valued at approximately $33,000. AllSquare Wealth Management LLC grew its stake in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new position in Micron Technology during the first quarter worth about $36,000. Finally, Hurley Capital LLC bought a new position in Micron Technology during the 4th quarter worth approximately $37,000. 80.84% of the stock is owned by institutional investors.

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.

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