Micron Technology (NASDAQ:MU) Trading Down 1%

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares were down 1% during mid-day trading on Monday . The company traded as low as $112.11 and last traded at $113.66. Approximately 4,603,523 shares changed hands during trading, a decline of 77% from the average daily volume of 20,359,148 shares. The stock had previously closed at $114.84.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Micron Technology from $105.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Fox Advisors raised Micron Technology from an "equal weight" rating to an "overweight" rating in a research note on Thursday, March 21st. Wedbush raised their price target on Micron Technology from $103.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, March 21st. Morgan Stanley boosted their price objective on Micron Technology from $78.00 to $98.00 and gave the company an "underweight" rating in a research report 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 investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.20.

Micron Technology Stock Performance

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 company has a fifty day moving average of $105.94 and a two-hundred day moving average of $88.43. The firm has a market capitalization of $126.64 billion, a price-to-earnings ratio of -32.94 and a beta of 1.27.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results 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 company 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 business's revenue for the quarter was up 57.7% on a year-over-year basis. During the same period last year, the firm earned ($2.03) earnings per share. As a group, equities 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 announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology's payout ratio is presently -13.33%.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $66,901,175.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $66,901,175.88. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction 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 268,890 shares of company stock valued at $29,738,667 over the last three months. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of Micron Technology by 28.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,545 shares of the semiconductor manufacturer's stock worth $418,000 after purchasing an additional 788 shares during the last quarter. Silicon Valley Capital Partners grew its position in shares of Micron Technology by 932.5% in the 1st quarter. Silicon Valley Capital Partners now owns 1,239 shares of the semiconductor manufacturer's stock valued at $146,000 after buying an additional 1,119 shares during the last quarter. Onyx Bridge Wealth Group LLC acquired a new stake in shares of Micron Technology in the first quarter valued at about $419,000. Heritage Investors Management Corp bought a new position in shares of Micron Technology during the first quarter worth about $220,000. Finally, RWA Wealth Partners LLC raised its position in shares of Micron Technology by 3.6% during the first quarter. RWA Wealth Partners LLC now owns 5,831 shares of the semiconductor manufacturer's stock worth $687,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.