Micron Technology (NASDAQ:MU) Trading Down 0.9%

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price fell 0.9% on Tuesday . The company traded as low as $118.36 and last traded at $120.22. 6,460,359 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 20,075,352 shares. The stock had previously closed at $121.37.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MU. UBS Group upped their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Wells Fargo & Company lifted their price target on Micron Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. Needham & Company LLC lifted their price target on Micron Technology from $100.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Mizuho lifted their price target on Micron Technology from $105.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Finally, Susquehanna lifted their price target on Micron Technology from $90.00 to $112.00 and gave the stock a "positive" rating in a research note on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.20.

Micron Technology Stock Performance

The firm has a market cap of $134.84 billion, a P/E ratio of -35.50 and a beta of 1.27. The stock's 50 day moving average is $100.62 and its two-hundred day moving average is $85.63. 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 earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm's revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.03) earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. Micron Technology's payout ratio is -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $63,431,525.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $63,431,525.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,890 shares of company stock worth $33,354,527. Corporate insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On Micron Technology

Several hedge funds have recently bought and sold shares of MU. Price T Rowe Associates Inc. MD raised its holdings in Micron Technology by 411.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer's stock worth $763,398,000 after purchasing an additional 12,286,893 shares during the period. Norges Bank bought a new stake in shares of Micron Technology during the fourth quarter worth $581,559,000. FMR LLC increased its position 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 worth $1,489,801,000 after acquiring an additional 7,089,790 shares in the last quarter. Morgan Stanley increased its position in shares of Micron Technology by 59.2% during the fourth quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer's stock worth $709,006,000 after acquiring an additional 5,274,984 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer's stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.