Micron Technology (NASDAQ:MU) Trading Down 3.6% – Should You Sell?

Shares of Micron Technology, Inc. (NASDAQ:MU) traded down 3.6% during trading on Thursday . The company traded as low as $103.35 and last traded at $105.32. 8,754,508 shares were traded during mid-day trading, a decline of 64% from the average session volume of 24,390,479 shares. The stock had previously closed at $109.23.

Analysts Set New Price Targets

MU has been the topic of several research reports. Piper Sandler cut their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. KeyCorp lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Finally, Morgan Stanley lowered their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Micron Technology Price Performance

The firm has a market cap of $114.97 billion, a price-to-earnings ratio of 29.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a 50-day moving average price of $98.36 and a 200 day moving average price of $101.53.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the firm earned ($0.95) earnings per share. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MU. Stonebrook Private Inc. grew its stake in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares during the last quarter. John G Ullman & Associates Inc. boosted its holdings in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after purchasing an additional 100 shares during the period. Trivant Custom Portfolio Group LLC increased its holdings in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after purchasing an additional 100 shares during the period. Trust Co. of Vermont raised its position in shares of Micron Technology by 14.3% during the third quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after buying an additional 103 shares during the last quarter. Finally, PDS Planning Inc lifted its stake in shares of Micron Technology by 2.4% in the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after buying an additional 104 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

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.