Micron Technology (NASDAQ:MU) Stock Price Down 3.4%

Micron Technology, Inc. (NASDAQ:MU)’s share price fell 3.4% during trading on Friday . The company traded as low as $131.23 and last traded at $132.20. 11,821,289 shares were traded during mid-day trading, a decline of 43% from the average session volume of 20,652,818 shares. The stock had previously closed at $136.82.

Analyst Ratings Changes

A number of brokerages have commented on MU. Barclays boosted their target price on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Raymond James boosted their target price on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. UBS Group reduced their target price on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Robert W. Baird boosted their price target on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Finally, Morgan Stanley boosted their price target on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.52.

Micron Technology Trading Down 3.8 %

The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $130.26 and a 200 day simple moving average of $108.11. The firm has a market cap of $145.92 billion, a PE ratio of -92.68 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the firm posted ($1.57) EPS. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.35%. Micron Technology’s dividend payout ratio is presently -32.39%.

Insiders Place Their Bets

In other news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scott J. Deboer sold 40,000 shares of the company’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 transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,730 shares of company stock worth $31,921,649. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Atria Investments Inc lifted its holdings in Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares in the last quarter. Retirement Group LLC lifted its holdings in Micron Technology by 37.3% in the 1st quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. AIA Group Ltd lifted its holdings in Micron Technology by 2.1% in the 1st quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock valued at $568,000 after purchasing an additional 101 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Micron Technology by 5.2% in the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 104 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.