Micron Technology (NASDAQ:MU) Stock Price Down 3.2%

Micron Technology, Inc. (NASDAQ:MUGet Free Report) was down 3.2% during mid-day trading on Friday . The company traded as low as $135.70 and last traded at $139.52. Approximately 19,449,518 shares were traded during mid-day trading, an increase of 0% from the average daily volume of 19,430,924 shares. The stock had previously closed at $144.19.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MU shares. Wedbush upped their target price on Micron Technology from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus upped their target price on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Susquehanna upped their price objective on Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a research note on Monday. Finally, TD Cowen upped their price objective on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.92.

Check Out Our Latest Stock Analysis on Micron Technology

Micron Technology Stock Down 2.0 %

The stock has a market capitalization of $156.47 billion, a PE ratio of -41.21 and a beta of 1.21. The firm has a 50 day moving average of $125.56 and a two-hundred day moving average of $103.45. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MUGet Free Report) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm 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%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period last year, the business posted ($2.03) EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 0.3 earnings per share for the current year.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the sale, the chief executive officer now owns 743,557 shares in the company, valued at approximately $89,226,840. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the sale, the chief executive officer now owns 743,557 shares in the company, valued at $89,226,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total value of $1,851,300.00. Following the sale, the senior vice president now owns 138,387 shares in the company, valued at approximately $17,079,723.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,446 shares of company stock worth $38,724,533. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp raised its position in shares of Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after buying an additional 80,345 shares during the period. Merlin Capital Inc purchased a new position in shares of Micron Technology in the 3rd quarter worth $407,000. TCW Group Inc. raised its position in shares of Micron Technology by 5.7% in the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after buying an additional 28,649 shares during the period. Savoie Capital LLC purchased a new position in shares of Micron Technology in the 3rd quarter worth $4,229,000. Finally, TrinityPoint Wealth LLC raised its position in shares of Micron Technology by 33.9% in the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after buying an additional 8,736 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

About Micron Technology

(Get Free Report)

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.

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