Micron Technology (NASDAQ:MU) Stock Price Up 1.1%

Shares of Micron Technology, Inc. (NASDAQ:MU) were up 1.1% during mid-day trading on Thursday . The company traded as high as $90.70 and last traded at $90.23. Approximately 3,132,673 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 21,250,572 shares. The stock had previously closed at $89.29.

Wall Street Analyst Weigh In

MU has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. The Goldman Sachs Group upped their target price on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. KeyCorp dropped their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Mizuho boosted their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Piper Sandler lifted their target price on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $157.12.

Micron Technology Stock Performance

The stock has a market cap of $95.78 billion, a price-to-earnings ratio of -60.83 and a beta of 1.18. The company’s 50-day simple moving average is $108.72 and its 200-day simple moving average is $114.56. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $6.67 billion. During the same period in the previous year, the firm posted ($1.57) EPS. The company’s quarterly revenue was up 81.5% on a year-over-year basis. Analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $134.57, for a total transaction of $941,990.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $96,762,423.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total transaction of $941,990.00. Following the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $96,762,423.93. The disclosure for this sale can be found here. Insiders sold a total of 46,174 shares of company stock worth $6,827,113 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Atria Investments Inc lifted its holdings in shares of Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after buying an additional 93 shares during the last quarter. Aspect Partners LLC raised its position in Micron Technology by 39.8% during the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after acquiring an additional 94 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after acquiring an additional 98 shares during the last quarter. Ameritas Advisory Services LLC grew its position in Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after acquiring an additional 98 shares in the last quarter. Finally, LRI Investments LLC increased its stake in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.