Micron Technology (NASDAQ:MU) Trading 0.2% Higher

Micron Technology, Inc. (NASDAQ:MU) shares traded up 0.2% during mid-day trading on Friday . The stock traded as high as $89.85 and last traded at $89.45. 5,035,507 shares were traded during trading, a decline of 76% from the average session volume of 21,282,865 shares. The stock had previously closed at $89.25.

Analysts Set New Price Targets

MU has been the topic of several research analyst reports. Mizuho boosted their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Stifel Nicolaus cut their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James decreased their price objective on shares of Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their target price for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, KeyCorp decreased their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.65.

Micron Technology Price Performance

The firm has a market capitalization of $99.24 billion, a P/E ratio of -62.99 and a beta of 1.17. The stock’s fifty day simple moving average is $100.66 and its 200 day simple moving average is $114.59. 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 released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period in the previous year, the company earned ($1.57) earnings per share. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s payout ratio is -32.39%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Institutional investors have recently modified their holdings of the stock. TrinityPoint Wealth LLC lifted its stake in shares of Micron Technology by 33.9% in the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after purchasing an additional 8,736 shares during the period. Gladstone Institutional Advisory LLC acquired a new position in shares of Micron Technology in the fourth quarter worth about $241,000. EverSource Wealth Advisors LLC boosted its stake in shares of Micron Technology by 12.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock worth $332,000 after acquiring an additional 424 shares in the last quarter. Tidemark LLC acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $25,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Micron Technology by 2.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 136,458 shares of the semiconductor manufacturer’s stock valued at $11,645,000 after purchasing an additional 3,046 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.