Micron Technology, Inc. (NASDAQ:MU – Get Free Report) traded down 3.3% during trading on Monday . The stock traded as low as $107.30 and last traded at $108.20. 4,278,195 shares traded hands during trading, a decline of 80% from the average session volume of 21,675,309 shares. The stock had previously closed at $111.90.
Analyst Upgrades and Downgrades
MU has been the topic of several research reports. TD Cowen lifted their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus decreased their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Susquehanna dropped their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. UBS Group decreased their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.04.
Micron Technology Price Performance
The firm’s 50 day moving average is $100.16 and its 200 day moving average is $113.13. The firm has a market cap of $118.95 billion, a P/E ratio of 159.12 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.
Micron Technology (NASDAQ:MU – Get Free Report) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm posted ($1.21) EPS. The firm’s revenue was up 93.3% on a year-over-year basis. As a group, analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.
Micron Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.
Insiders Place Their Bets
In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by company insiders.
Institutional Trading of Micron Technology
Large investors have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new position in Micron Technology in the third quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at approximately $28,000. Davis Capital Management bought a new position in shares of Micron Technology during the 3rd quarter valued at approximately $30,000. Richard W. Paul & Associates LLC raised its holdings in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the period. Finally, DT Investment Partners LLC boosted its stake in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the period. 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.