Micron Technology (NASDAQ:MU) Trading 1.2% Higher After Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s share price traded up 1.2% during trading on Monday after UBS Group raised their price target on the stock from $125.00 to $130.00. UBS Group currently has a buy rating on the stock. Micron Technology traded as high as $103.01 and last traded at $102.01. 5,179,114 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 21,813,631 shares. The stock had previously closed at $100.79.

MU has been the subject of several other reports. Needham & Company LLC decreased their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Mizuho reduced their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. TD Cowen reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a research note on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $134.16.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Beacon Capital Management LLC grew its holdings in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC increased 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 buying an additional 296 shares during the period. Midwest Capital Advisors LLC bought a new stake in Micron Technology during the 4th quarter valued at about $33,000. Finally, Stone House Investment Management LLC boosted its position in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

The stock’s 50 day simple moving average is $96.80 and its 200 day simple moving average is $98.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a market capitalization of $114.88 billion, a P/E ratio of 29.71 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter last year, the firm posted ($0.95) earnings per share. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

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.