Micron Technology (NASDAQ:MU) Trading 0.5% Higher

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price shot up 0.5% during trading on Monday . The company traded as high as $109.62 and last traded at $107.29. 6,474,517 shares traded hands during trading, a decline of 68% from the average session volume of 20,446,170 shares. The stock had previously closed at $106.77.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, March 21st. Mizuho upped their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Wells Fargo & Company upped their price objective on shares of Micron Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. UBS Group increased their target price on shares of Micron Technology from $95.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. Finally, StockNews.com upgraded shares of Micron Technology from a "sell" rating to a "hold" rating in a research report on Friday, March 22nd. One investment 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. According to MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and an average target price of $122.20.

Micron Technology Stock Up 2.2 %

The company has a fifty day moving average of $102.95 and a two-hundred day moving average of $86.93. The company has a market cap of $120.84 billion, a PE ratio of -31.63 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Thursday, March 28th. Micron Technology's dividend payout ratio (DPR) is presently -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the firm's stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $70,970,130. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 148,817 shares of the company's stock, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company's stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company's stock, valued at $70,970,130. The disclosure for this sale can be found here. Insiders sold a total of 313,890 shares of company stock worth $33,617,027 over the last three months. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Large investors have recently added to or reduced their stakes in the stock. Tidemark LLC acquired a new position in Micron Technology during the 4th quarter worth about $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $28,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at approximately $29,000. 80.84% of the stock is currently owned by hedge funds and other 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.