Micron Technology (NASDAQ:MU) Shares Up 6.9%

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares shot up 6.9% during trading on Monday . The stock traded as high as $118.00 and last traded at $117.81. 17,655,832 shares were traded during trading, an increase of 0% from the average session volume of 17,594,156 shares. The stock had previously closed at $110.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Micron Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday. Mizuho increased their target price on Micron Technology from $105.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday. StockNews.com raised Micron Technology from a "sell" rating to a "hold" rating in a research note on Friday. Rosenblatt Securities reissued a "buy" rating and set a $140.00 target price on shares of Micron Technology in a research note on Monday, March 18th. Finally, Barclays increased their target price on Micron Technology from $95.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average target price of $118.69.

Micron Technology Stock Up 6.3 %

The firm has a 50-day simple moving average of $89.26 and a 200 day simple moving average of $79.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company has a market capitalization of $129.71 billion, a PE ratio of -33.95 and a beta of 1.24.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company's revenue was up 57.7% on a year-over-year basis. During the same period last year, the firm earned ($2.03) earnings per share. On average, research analysts predict that Micron Technology, Inc. will post -1.06 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. Micron Technology's dividend payout ratio is currently -13.33%.

Insiders Place Their Bets

In other news, EVP Scott J. Deboer sold 28,228 shares of the business's stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the transaction, the executive vice president now directly owns 203,342 shares in the company, valued at approximately $17,739,556.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Micron Technology news, EVP Scott J. Deboer sold 28,228 shares of the business's stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the completion of the transaction, the executive vice president now owns 203,342 shares of the company's stock, valued at approximately $17,739,556.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business's stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $82.13, for a total transaction of $574,910.00. Following the transaction, the chief executive officer now directly owns 651,759 shares of the company's stock, valued at approximately $53,528,966.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,228 shares of company stock worth $24,036,891. Corporate insiders own 0.32% of the company's stock.

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Micron Technology during the fourth quarter worth about $137,941,000. Sivia Capital Partners LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $208,000. Vanguard Group Inc. increased its holdings in shares of Micron Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer's stock valued at $8,106,001,000 after purchasing an additional 755,588 shares in the last quarter. Wahed Invest LLC boosted its stake in Micron Technology by 6.4% in the fourth quarter. Wahed Invest LLC now owns 18,668 shares of the semiconductor manufacturer's stock valued at $1,593,000 after acquiring an additional 1,118 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new position in Micron Technology in the fourth quarter valued at approximately $587,000. 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.