Micron Technology (NASDAQ:MU) Stock Price Up 0.6%

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) rose 0.6% on Wednesday . The company traded as high as $120.47 and last traded at $119.98. Approximately 3,137,565 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 20,003,445 shares. The stock had previously closed at $119.21.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MU shares. Morgan Stanley boosted their price objective 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. Barclays upped their price objective on Micron Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, March 18th. KeyCorp lifted their target price on Micron Technology from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. JPMorgan Chase & Co. increased their price target on Micron Technology from $105.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Finally, StockNews.com upgraded shares of Micron Technology from a "sell" rating to a "hold" rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and an average price target of $123.60.

Micron Technology Trading Up 0.1 %

The business's fifty day moving average is $110.11 and its 200-day moving average is $90.70. 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 firm has a market cap of $131.73 billion, a P/E ratio of -34.59 and a beta of 1.27.

Micron Technology (NASDAQ:MU - Get Free Report) last posted 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 business had revenue of $5.82 billion during 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. Micron Technology's quarterly revenue was up 57.7% on a year-over-year basis. Analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.39%. Micron Technology's payout ratio is -13.33%.

Insider Transactions at Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 153,387 shares of the company's stock, valued at $17,723,867.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, April 30th. The shares were 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 of the company's stock, valued at $17,723,867.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,207 shares of company stock valued at $41,839,707. Corporate insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On Micron Technology

Several hedge funds have recently modified their holdings of MU. Revolve Wealth Partners LLC raised its holdings in shares of Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer's stock valued at $776,000 after acquiring an additional 98 shares in the last quarter. Retirement Group LLC increased its position in Micron Technology by 37.3% during the 1st 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 raised its holdings in Micron Technology by 2.1% in the 1st quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer's stock worth $568,000 after purchasing an additional 101 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of 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 purchasing an additional 104 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its stake in shares of 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 purchasing an additional 124 shares in the last quarter. 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.