Micron Technology (NASDAQ:MU) Shares Up 0.8%

Micron Technology, Inc. (NASDAQ:MU)’s share price traded up 0.8% during trading on Thursday . The stock traded as high as $112.09 and last traded at $110.62. 5,111,824 shares traded hands during trading, a decline of 75% from the average session volume of 20,191,010 shares. The stock had previously closed at $109.70.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MU shares. Morgan Stanley lifted 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. Barclays boosted their target price on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Citigroup reissued a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Thursday, April 4th. UBS Group upped their target price on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Piper Sandler boosted their target price on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Stock Up 2.3 %

The stock has a market cap of $124.24 billion, a price-to-earnings ratio of -32.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The business’s 50 day moving average is $107.85 and its 200 day moving average is $89.19.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for 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 revenue for the quarter was up 57.7% on a year-over-year basis. During the same period in the previous year, the company posted ($2.03) earnings per share. Equities analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

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

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $80,483,154.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at $80,483,154.57. The disclosure for this sale can be found here. Insiders sold 261,890 shares of company stock valued at $29,129,527 over the last ninety days. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MU. Tidemark LLC bought a new position in shares of Micron Technology in the 4th quarter worth $25,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the first quarter valued at about $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter worth about $26,000. OFI Invest Asset Management acquired a new stake in shares of Micron Technology in the 3rd quarter worth about $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Micron Technology in the 3rd quarter valued at about $28,000. 80.84% of the stock is owned by institutional investors and hedge funds.

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.