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

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price traded up 0.8% on Tuesday . The company traded as high as $121.41 and last traded at $121.15. 4,181,498 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 20,097,711 shares. The stock had previously closed at $120.13.

Wall Street Analysts Forecast Growth

Several research firms have commented on MU. Morgan Stanley increased their target price on Micron Technology from $78.00 to $98.00 and gave the company an "underweight" rating in a research report on Thursday, March 21st. Fox Advisors raised shares of Micron Technology from an "equal weight" rating to an "overweight" rating in a report on Thursday, March 21st. Bank of America lifted their price target on shares of Micron Technology from $120.00 to $144.00 and gave the stock a "buy" rating in a report on Monday, April 1st. Piper Sandler increased their price objective on Micron Technology from $95.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 21st. Finally, Mizuho raised their target price on Micron Technology from $105.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $123.60.

Micron Technology Price Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The business has a 50 day simple moving average of $110.11 and a 200-day simple moving average of $90.70. The firm has a market cap of $131.61 billion, a price-to-earnings ratio of -34.55 and a beta of 1.27.

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 (EPS) for the quarter, beating 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 company had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter in the previous year, the firm earned ($2.03) earnings per share. Micron Technology's quarterly revenue was up 57.7% on a year-over-year basis. Equities research analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology's dividend payout ratio is currently -13.33%.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company's stock, valued at $63,431,525.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares in the company, valued at approximately $63,431,525.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 316,890 shares of company stock valued at $35,485,387. Company insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Revolve Wealth Partners LLC grew its position in Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer's stock worth $776,000 after acquiring an additional 98 shares in the last quarter. Retirement Group LLC boosted its stake in shares of Micron Technology by 37.3% during the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer's stock valued at $43,000 after purchasing an additional 100 shares during the period. AIA Group Ltd grew its holdings in shares of Micron Technology by 2.1% in the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer's stock worth $568,000 after purchasing an additional 101 shares during the last quarter. Manchester Capital Management LLC increased its stake in Micron Technology by 5.2% in the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer's stock worth $250,000 after buying an additional 104 shares during the period. Finally, Premier Path Wealth Partners LLC lifted its holdings in Micron Technology by 3.1% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer's stock valued at $493,000 after buying an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

About Micron Technology

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.