Micron Technology (NASDAQ:MU) Trading Up 1.9%

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded up 1.9% during trading on Tuesday . The stock traded as high as $89.04 and last traded at $88.80. 4,992,017 shares traded hands during trading, a decline of 77% from the average session volume of 21,286,893 shares. The stock had previously closed at $87.18.

Analyst Upgrades and Downgrades

MU has been the topic of several research reports. TD Cowen cut their price target on shares of Micron Technology from $160.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group increased their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Morgan Stanley decreased their target price on shares of Micron Technology from $140.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, Bank of America boosted their price objective on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $146.81.

Micron Technology Stock Down 1.6 %

The firm has a market cap of $96.86 billion, a price-to-earnings ratio of -61.51 and a beta of 1.17. The business has a fifty day simple moving average of $101.48 and a 200 day simple moving average of $114.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.57) earnings per share. As a group, equities analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. SS&H Financial Advisors Inc. increased its position in shares of Micron Technology by 3.2% during the 2nd quarter. SS&H Financial Advisors Inc. now owns 21,265 shares of the semiconductor manufacturer’s stock worth $2,797,000 after purchasing an additional 650 shares during the last quarter. Heritage Wealth Management Inc. acquired a new stake in shares of Micron Technology during the second quarter valued at about $445,000. Sanctuary Advisors LLC purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $5,306,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Micron Technology in the 2nd quarter worth approximately $92,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Micron Technology during the 2nd quarter worth approximately $39,000. 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.