Micron Technology (NASDAQ:MU) Stock Price Up 1.6%

Micron Technology, Inc. (NASDAQ:MU) shares traded up 1.6% during trading on Friday . The stock traded as high as $115.45 and last traded at $114.08. 4,302,843 shares were traded during trading, a decline of 79% from the average session volume of 20,125,238 shares. The stock had previously closed at $112.33.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Mizuho lifted their price objective on Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Bank of America boosted their price target on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Stifel Nicolaus restated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Friday, April 12th. TD Cowen lifted their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Finally, Morgan Stanley increased their price objective on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Trading Up 2.1 %

The firm has a market capitalization of $127.02 billion, a price-to-earnings ratio of -33.25 and a beta of 1.27. The business’s 50 day moving average price is $108.38 and its 200-day moving average price is $89.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s payout ratio is currently -13.33%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total transaction of $574,210.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $64,685,330.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $64,685,330.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. In the last three months, insiders sold 283,890 shares of company stock worth $31,666,867. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

A number of hedge funds have recently bought and sold shares of MU. DecisionPoint Financial LLC purchased a new position in Micron Technology during the first quarter worth approximately $25,000. Valued Wealth Advisors LLC boosted its holdings in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares during the last quarter. Tidemark LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $25,000. Pingora Partners LLC acquired a new stake in Micron Technology during the fourth quarter worth about $26,000. Finally, Riverview Trust Co purchased a new position in shares of Micron Technology in the 1st quarter worth about $39,000. Institutional investors and hedge funds 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.