Micron Technology (NASDAQ:MU) Trading 2% Higher

Micron Technology, Inc. (NASDAQ:MU) shares traded up 2% on Tuesday . The company traded as high as $112.65 and last traded at $111.34. 5,368,592 shares were traded during mid-day trading, a decline of 74% from the average session volume of 20,419,357 shares. The stock had previously closed at $109.12.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Morgan Stanley increased their price objective on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Thursday, March 21st. Mizuho increased their price objective on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Cantor Fitzgerald increased their price objective on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Price Performance

The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $104.64 and a two-hundred day moving average price of $87.69.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same period last year, the company posted ($2.03) earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $86,789,214.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $86,789,214.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,890 shares of company stock worth $28,955,157. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Micron Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock valued at $8,106,001,000 after buying an additional 755,588 shares in the last quarter. Sanders Capital LLC lifted its position in shares of Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after acquiring an additional 503,923 shares during the period. FMR LLC lifted its position in shares of Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after acquiring an additional 7,089,790 shares during the period. Wellington Management Group LLP lifted its position in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares during the period. Finally, Morgan Stanley lifted its position in shares of Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after acquiring an additional 2,852,688 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

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.