Micron Technology (NASDAQ:MU) Stock Price Down 2.2%

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) dropped 2.2% on Friday . The stock traded as low as $108.64 and last traded at $109.43. Approximately 9,010,284 shares traded hands during trading, a decline of 56% from the average daily volume of 20,284,422 shares. The stock had previously closed at $111.93.

Analyst Ratings Changes

MU has been the topic of several recent research reports. Stifel Nicolaus restated a "buy" rating and set a $140.00 target price on shares of Micron Technology in a report on Friday, April 12th. Mizuho raised their target price on Micron Technology from $105.00 to $124.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Rosenblatt Securities restated a "buy" rating and set a $140.00 target price on shares of Micron Technology in a report on Monday, March 18th. Citigroup reaffirmed a "buy" rating and issued a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group raised their price target on Micron Technology from $85.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.20.

Micron Technology Trading Down 4.6 %

The stock has a market cap of $118.23 billion, a P/E ratio of -30.95 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. The business's 50 day simple moving average is $102.95 and its 200 day simple moving average is $86.67.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter in the previous year, the company posted ($2.03) earnings per share. Micron Technology's quarterly revenue was up 57.7% compared to the same quarter last year. On average, analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Thursday, March 28th. Micron Technology's dividend payout ratio (DPR) is currently -13.33%.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now owns 728,557 shares in the company, valued at approximately $94,712,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business's 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 completion of the transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the sale, the chief executive officer now directly owns 728,557 shares of the company's stock, valued at approximately $94,712,410. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,890 shares of company stock worth $33,617,027. Insiders own 0.32% of the company's stock.

Institutional Trading of Micron Technology

A number of institutional investors have recently bought and sold shares of the business. Spinnaker Investment Group LLC acquired a new stake in Micron Technology during the 1st quarter worth $228,000. Accel Wealth Management acquired a new position in shares of Micron Technology in the 1st quarter valued at $487,000. Legacy Wealth Asset Management LLC grew its holdings in shares of Micron Technology by 14.6% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,348 shares of the semiconductor manufacturer's stock valued at $1,574,000 after buying an additional 1,705 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of Micron Technology by 14.0% in the 1st quarter. First Trust Direct Indexing L.P. now owns 26,087 shares of the semiconductor manufacturer's stock valued at $3,075,000 after buying an additional 3,194 shares during the period. Finally, Advisor Resource Council grew its holdings in shares of Micron Technology by 97.0% in the 1st quarter. Advisor Resource Council now owns 6,100 shares of the semiconductor manufacturer's stock valued at $719,000 after buying an additional 3,004 shares during the period. Institutional investors and hedge funds 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.