Micron Technology (NASDAQ:MU) Trading Up 2%

Micron Technology, Inc. (NASDAQ:MU) shares traded up 2% during mid-day trading on Tuesday . The company traded as high as $122.46 and last traded at $119.50. 18,163,877 shares traded hands during trading, a decline of 1% from the average session volume of 18,282,334 shares. The stock had previously closed at $117.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MU shares. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Thursday, March 21st. Piper Sandler increased their target price on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. Finally, KeyCorp increased their price objective on Micron Technology from $115.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.69.

Micron Technology Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a fifty day simple moving average of $90.63 and a two-hundred day simple moving average of $80.38.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period last year, the company posted ($2.03) EPS. Analysts predict that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $83.63, for a total transaction of $585,410.00. Following the completion of the transaction, the chief executive officer now directly owns 651,759 shares in the company, valued at approximately $54,506,605.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 264,000 shares of company stock valued at $26,368,640 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently modified their holdings of the company. HighPoint Advisor Group LLC bought a new stake in Micron Technology in the 4th quarter valued at $1,350,000. Napatree Capital LLC bought a new position in shares of Micron Technology in the fourth quarter valued at about $684,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Micron Technology during the 4th quarter worth about $137,941,000. Sivia Capital Partners LLC bought a new stake in shares of Micron Technology during the 4th quarter worth about $208,000. Finally, Vanguard Group Inc. grew its stake in Micron Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock valued at $8,106,001,000 after buying an additional 755,588 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

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.