Micron Technology (NASDAQ:MU) Trading Down 0.4% on Analyst Downgrade

Micron Technology, Inc. (NASDAQ:MU) traded down 0.4% during mid-day trading on Friday after Barclays lowered their price target on the stock from $145.00 to $110.00. Barclays currently has an overweight rating on the stock. Micron Technology traded as low as $83.54 and last traded at $86.72. 15,771,937 shares changed hands during trading, a decline of 28% from the average session volume of 21,870,152 shares. The stock had previously closed at $87.09.

Several other research firms have also issued reports on MU. Raymond James increased their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Robert W. Baird reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday. Wedbush restated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Tuesday. Cantor Fitzgerald dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. Finally, TD Cowen decreased their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $132.26.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the third quarter worth $26,000. Davis Capital Management purchased a new position in Micron Technology in the 3rd quarter worth $30,000. True Wealth Design LLC raised its stake in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the last quarter. DT Investment Partners LLC lifted its position in Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares during the period. Finally, Stone House Investment Management LLC grew its stake in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 3.5 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm has a market capitalization of $100.40 billion, a price-to-earnings ratio of 132.53 and a beta of 1.16. The business has a fifty day moving average price of $103.14 and a two-hundred day moving average price of $108.67.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.95) earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

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.