Micron Technology (NASDAQ:MU) Stock Price Up 0.8%

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) were up 0.8% during mid-day trading on Monday . The stock traded as high as $124.78 and last traded at $123.56. Approximately 4,842,448 shares changed hands during trading, a decline of 76% from the average daily volume of 20,091,105 shares. The stock had previously closed at $122.52.

Analyst Ratings Changes

MU has been the topic of several analyst reports. Fox Advisors raised Micron Technology from an "equal weight" rating to an "overweight" rating in a research report on Thursday, March 21st. Bank of America raised their price target on Micron Technology from $120.00 to $144.00 and gave the company a "buy" rating in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft raised their price target on Micron Technology from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, December 21st. Argus raised Micron Technology from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Thursday, March 21st. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $140.00 target price on shares of Micron Technology in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average target price of $122.20.

Micron Technology Price Performance

The company has a market cap of $134.40 billion, a price-to-earnings ratio of -35.05 and a beta of 1.27. The company has a fifty day moving average price of $99.93 and a two-hundred day moving average price of $85.24. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology's quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.03) EPS. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be given a $0.115 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology's payout ratio is -13.33%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.41, for a total value of $611,870.00. Following the completion of the transaction, the chief executive officer now owns 642,251 shares in the company, valued at approximately $56,139,159.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business's stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.41, for a total value of $611,870.00. Following the sale, the chief executive officer now owns 642,251 shares of the company's stock, valued at approximately $56,139,159.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 313,890 shares of company stock worth $33,354,527. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its holdings in shares of Micron Technology by 12.8% in the first quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer's stock worth $27,314,000 after acquiring an additional 39,693 shares in the last quarter. Prudential PLC bought a new position in shares of Micron Technology during the first quarter worth about $1,672,000. Brighton Jones LLC grew its holdings in shares of Micron Technology by 12.3% during the first quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer's stock worth $227,000 after buying an additional 318 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Micron Technology by 9.2% during the first quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer's stock worth $15,611,000 after buying an additional 16,953 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in shares of Micron Technology by 52.5% during the first quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer's stock worth $165,000 after buying an additional 730 shares in the last quarter. 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.