Micron Technology (NASDAQ:MU) Trading Down 1.5%

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares were down 1.5% on Wednesday . The company traded as low as $109.57 and last traded at $110.74. Approximately 7,822,412 shares traded hands during trading, a decline of 62% from the average daily volume of 20,416,617 shares. The stock had previously closed at $112.46.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup restated a "buy" rating and set a $150.00 price target on shares of Micron Technology in a research note on Thursday, April 4th. Needham & Company LLC lifted their price target on shares of Micron Technology from $100.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Rosenblatt Securities reissued a "buy" rating and set a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $140.00 target price on shares of Micron Technology in a report on Friday, April 12th. Finally, StockNews.com raised Micron Technology from a "sell" rating to a "hold" rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $122.20.

Micron Technology Price Performance

The company has a market cap of $123.78 billion, a PE ratio of -32.40 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $104.64 and a 200-day simple moving average of $87.69.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the company earned ($2.03) earnings per share. The business's revenue for the quarter was up 57.7% on a year-over-year basis. As a group, research analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. Micron Technology's dividend payout ratio is currently -13.33%.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $87.02, for a total transaction of $609,140.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $68,620,230.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of 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 SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total value of $609,140.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares in the company, valued at approximately $68,620,230.14. The disclosure for this sale can be found here. Insiders sold a total of 306,890 shares of company stock worth $33,005,157 over the last three months. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently modified their holdings of the business. Tidemark LLC purchased a new stake in Micron Technology in the 4th quarter worth $25,000. Pingora Partners LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth about $26,000. OFI Invest Asset Management acquired a new position in shares of Micron Technology during the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Micron Technology during the 3rd quarter worth approximately $28,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at approximately $29,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.