Micron Technology (NASDAQ:MU) Shares Up 0.8%

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) was up 0.8% on Thursday . The stock traded as high as $112.09 and last traded at $110.62. Approximately 5,111,824 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 20,191,010 shares. The stock had previously closed at $109.70.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MU shares. Citigroup reaffirmed a "buy" rating and issued a $150.00 price target on shares of Micron Technology in a report on Thursday, April 4th. Piper Sandler upped their price target on Micron Technology from $95.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 21st. Barclays upped their price target on Micron Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a report on Monday, March 18th. JPMorgan Chase & Co. upped their price target on Micron Technology from $105.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company upped their price target on Micron Technology from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.20.

Micron Technology Price Performance

The company has a 50-day moving average of $108.38 and a two-hundred day moving average of $89.36. The stock has a market capitalization of $124.39 billion, a PE ratio of -32.56 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 released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the business posted ($2.03) earnings per share. The firm's revenue for the quarter was up 57.7% compared to the same quarter last year. Sell-side analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm'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 value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company's stock, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 of the company's stock, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the business's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. Insiders sold a total of 283,890 shares of company stock worth $31,666,867 in the last 90 days. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MU. DecisionPoint Financial LLC acquired a new position in Micron Technology in the 1st quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its position in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer's stock worth $29,000 after acquiring an additional 173 shares during the last quarter. Tidemark LLC bought a new stake in Micron Technology during the 4th quarter worth approximately $25,000. Pingora Partners LLC bought a new stake in Micron Technology during the 4th quarter worth approximately $26,000. Finally, Riverview Trust Co acquired a new position in Micron Technology during the 1st quarter worth $39,000. Hedge funds and other 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.