Micron Technology (NASDAQ:MU) Trading Up 2.6% – Should You Buy?

Shares of Micron Technology, Inc. (NASDAQ:MU) were up 2.6% during mid-day trading on Tuesday . The company traded as high as $100.92 and last traded at $100.76. Approximately 6,422,038 shares were traded during trading, a decline of 73% from the average daily volume of 23,442,749 shares. The stock had previously closed at $98.18.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group cut their price objective on shares of Micron Technology from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. dropped their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Rosenblatt Securities cut their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research report on Wednesday, March 26th. Finally, Morgan Stanley lowered their price objective on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $126.48.

Micron Technology Trading Up 3.7%

The company has a market capitalization of $113.84 billion, a price-to-earnings ratio of 29.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business’s 50-day moving average price is $82.67 and its two-hundred day moving average price is $91.88.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The firm’s revenue was up 38.2% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s payout ratio is presently 11.03%.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds have recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC bought a new stake in Micron Technology during the 4th quarter valued at $26,000. Beacon Capital Management LLC grew its holdings in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology during the fourth quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the 1st quarter worth about $33,000. Finally, Activest Wealth Management lifted its position in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds 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.