Micron Technology (NASDAQ:MU) Stock Price Up 1.2%

Micron Technology, Inc. (NASDAQ:MU) rose 1.2% during mid-day trading on Wednesday . The stock traded as high as $134.26 and last traded at $134.15. Approximately 5,527,664 shares changed hands during trading, a decline of 73% from the average daily volume of 20,647,547 shares. The stock had previously closed at $132.59.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Thursday, March 21st. TD Cowen boosted their target price on Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Needham & Company LLC raised their price target on Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Morgan Stanley lifted their price objective on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Finally, Barclays raised their target price on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Micron Technology Trading Up 1.7 %

The company has a market capitalization of $149.59 billion, a PE ratio of -94.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The company’s fifty day moving average is $128.92 and its 200-day moving average is $107.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the prior year, the business posted ($1.57) EPS. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. On average, analysts anticipate that Micron Technology, Inc. will post 0.53 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.34%. Micron Technology’s payout ratio is -32.39%.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the sale, the executive vice president now directly owns 158,617 shares in the company, valued at $17,497,041.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares in the company, valued at $94,712,410. The disclosure for this sale can be found here. Insiders sold a total of 302,730 shares of company stock worth $37,771,649 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Several large investors have recently added to or reduced their stakes in the company. Atria Investments Inc lifted its holdings in shares of Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after purchasing an additional 93 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after acquiring an additional 98 shares during the last quarter. Retirement Group LLC increased its stake in shares of Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 100 shares during the period. AIA Group Ltd lifted its position in Micron Technology by 2.1% during the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock valued at $568,000 after purchasing an additional 101 shares during the period. Finally, Manchester Capital Management LLC boosted its holdings in Micron Technology by 5.2% in the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors 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.