Micron Technology (NASDAQ:MU) Stock Price Up 4.2%

Micron Technology, Inc. (NASDAQ:MU) shares rose 4.2% on Monday . The company traded as high as $121.37 and last traded at $119.53. Approximately 10,560,988 shares changed hands during trading, a decline of 48% from the average daily volume of 20,141,805 shares. The stock had previously closed at $114.70.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TD Cowen raised their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. UBS Group upped their target price on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Raymond James raised their target price on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $123.60.

Micron Technology Stock Performance

The business’s fifty day moving average is $110.11 and its two-hundred day moving average is $90.70. The stock has a market capitalization of $131.73 billion, a PE ratio of -34.59 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last issued 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 during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s revenue was up 57.7% on a year-over-year basis. During the same period last year, the company posted ($2.03) EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.39%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the transaction, the executive vice president now owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the sale, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 316,890 shares of company stock worth $35,485,387. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidemark LLC purchased a new stake in Micron Technology during the 4th quarter valued at about $25,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology during the first quarter worth about $25,000. Pingora Partners LLC purchased a new stake in Micron Technology in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new position in Micron Technology in the 3rd quarter worth approximately $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Micron Technology during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.