Micron Technology (NASDAQ:MU) Trading Up 0.4% – What’s Next?

Shares of Micron Technology, Inc. (NASDAQ:MU) were up 0.4% on Tuesday . The company traded as high as $72.80 and last traded at $71.33. Approximately 5,630,292 shares changed hands during trading, a decline of 76% from the average daily volume of 23,208,767 shares. The stock had previously closed at $71.02.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Sanford C. Bernstein lowered their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Rosenblatt Securities reduced their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, Citigroup lowered their price objective on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $129.36.

Micron Technology Stock Up 0.3 %

The stock has a market cap of $79.58 billion, a price-to-earnings ratio of 20.52 and a beta of 1.18. The firm’s 50-day moving average is $90.21 and its 200 day moving average is $96.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the company posted $0.42 earnings per share. Micron Technology’s revenue was up 38.2% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.65%. Micron Technology’s payout ratio is currently 11.03%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Trivant Custom Portfolio Group LLC lifted its holdings in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after acquiring an additional 100 shares during the last quarter. Xcel Wealth Management LLC grew its position in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after acquiring an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 108 shares during the period. Twin Capital Management Inc. lifted its position in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after purchasing an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its stake in Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after purchasing an additional 114 shares during the period. 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.