Micron Technology (NASDAQ:MU) Trading Down 0.1% – Should You Sell?

Micron Technology, Inc. (NASDAQ:MU)’s share price fell 0.1% on Wednesday . The company traded as low as $107.76 and last traded at $109.30. 7,415,326 shares were traded during trading, a decline of 70% from the average session volume of 24,711,525 shares. The stock had previously closed at $109.38.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wedbush reiterated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. The Goldman Sachs Group lowered their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Mizuho decreased their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Raymond James upped their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Stock Up 0.5 %

The stock has a market cap of $122.43 billion, a P/E ratio of 31.67 and a beta of 1.18. The stock’s fifty day simple moving average is $97.92 and its 200-day simple moving average is $101.65. 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 posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same period last year, the business posted ($0.95) earnings per share. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares during the period. Primecap Management Co. CA boosted its stake in Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after purchasing an additional 206,499 shares during the period. Geode Capital Management LLC grew its position in Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after purchasing an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares in 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.