Micron Technology (NASDAQ:MU) Shares Up 1.1%

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares traded up 1.1% on Tuesday . The stock traded as high as $116.28 and last traded at $115.60. 4,237,614 shares traded hands during trading, a decline of 79% from the average session volume of 20,286,779 shares. The stock had previously closed at $114.36.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Robert W. Baird increased their price objective on Micron Technology from $78.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, March 19th. Morgan Stanley lifted their price target on shares of Micron Technology from $78.00 to $98.00 and gave the stock an "underweight" rating in a research note on Thursday, March 21st. Wells Fargo & Company raised their target price 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. Rosenblatt Securities restated a "buy" rating and issued a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. Finally, KeyCorp upped their price objective on Micron Technology from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $122.20.

Micron Technology Stock Down 1.2 %

The business has a 50-day moving average of $107.28 and a 200 day moving average of $89.05. The company has a market capitalization of $125.09 billion, a PE ratio of -32.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. The firm 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 quarterly revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.03) EPS. Equities research analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology's payout ratio is -13.33%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the 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 sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company's stock, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total value of $574,210.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company's stock, valued at approximately $64,685,330.71. The disclosure for this sale can be found here. Insiders have sold 261,890 shares of company stock valued at $29,129,527 over the last ninety days. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Micron Technology

A number of large investors have recently bought and sold shares of the business. Tidemark LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at about $26,000. OFI Invest Asset Management purchased a new position in shares of Micron Technology in the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology during the third quarter valued at approximately $28,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Micron Technology in the fourth quarter valued at approximately $29,000. 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.