Micron Technology (NASDAQ:MU) Trading 1.1% Higher

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shot up 1.1% during mid-day trading on Thursday . The stock traded as high as $129.25 and last traded at $129.17. 3,447,023 shares were traded during mid-day trading, a decline of 82% from the average session volume of 19,595,563 shares. The stock had previously closed at $127.81.

Analysts Set New Price Targets

MU has been the subject of several research reports. Argus raised Micron Technology from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a report on Thursday, March 21st. Cantor Fitzgerald raised their price target on Micron Technology from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. Raymond James raised their price target on Micron Technology from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, January 19th. TD Cowen raised their price target on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised their price target on Micron Technology from $105.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $124.60.

Micron Technology Stock Performance

The stock has a market cap of $141.62 billion, a PE ratio of -37.07 and a beta of 1.27. The company has a fifty day moving average price of $113.57 and a 200 day moving average price of $92.88. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.03) earnings per share. Analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders 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 dividend yield of 0.36%. Micron Technology's dividend payout ratio is currently -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm's stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $122.89, for a total value of $860,230.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company's stock, valued at $88,363,931.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm's stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $122.89, for a total value of $860,230.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company's stock, valued at $88,363,931.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on 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 in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold 417,446 shares of company stock valued at $47,867,783 over the last ninety days. 0.32% of the stock is owned by insiders.

Institutional Trading of Micron Technology

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Micron Technology by 1.8% during the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer's stock valued at $11,396,024,000 after purchasing an additional 1,681,815 shares during the last quarter. Capital World Investors lifted its holdings in shares of Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer's stock valued at $2,681,807,000 after purchasing an additional 1,400,154 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of Micron Technology by 2.3% during the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer's stock valued at $1,927,263,000 after purchasing an additional 503,923 shares during the last quarter. FMR LLC lifted its holdings in shares of Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer's stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer's stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

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.