Micron Technology (NASDAQ:MU) Shares Down 0.7% – Time to Sell?

Micron Technology, Inc. (NASDAQ:MU) fell 0.7% during trading on Friday . The stock traded as low as $96.10 and last traded at $97.52. 5,909,475 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 21,413,441 shares. The stock had previously closed at $98.20.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Wedbush restated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Susquehanna decreased their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. TD Cowen increased their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Trading Down 0.7 %

The business has a fifty day moving average of $103.46 and a 200-day moving average of $111.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market capitalization of $108.66 billion, a P/E ratio of 143.41 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the previous year, the company posted ($1.21) EPS. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Several hedge funds have recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the second quarter valued at about $28,000. Highline Wealth Partners LLC bought a new position in Micron Technology in the 3rd quarter worth approximately $26,000. Richard W. Paul & Associates LLC grew its stake in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares in the last quarter. LRI Investments LLC raised its holdings in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the period. Finally, Davis Capital Management purchased a new stake in shares of Micron Technology during the third quarter worth $30,000. 80.84% of the stock is currently owned by institutional investors.

About Micron Technology

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.