Micron Technology (NASDAQ:MU) Shares Down 1.1% - Should You Sell?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price was down 1.1% on Friday . The company traded as low as $110.57 and last traded at $112.17. Approximately 3,878,797 shares traded hands during trading, a decline of 82% from the average daily volume of 21,713,234 shares. The stock had previously closed at $113.41.

Analyst Ratings Changes

Several analysts have weighed in on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. Stifel Nicolaus dropped their target price on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, September 19th. Wells Fargo & Company reduced their price target on shares of Micron Technology from $190.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday, September 18th. Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Robert W. Baird dropped their price target on Micron Technology from $172.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $143.04.

Micron Technology Price Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The business has a fifty day moving average of $99.49 and a 200 day moving average of $113.09. The stock has a market cap of $124.07 billion, a PE ratio of 164.96 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. During the same period last year, the business earned ($1.21) EPS. The firm's revenue for the quarter was up 93.3% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio is presently 67.65%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company's stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently bought and sold shares of MU. Clearbridge Investments LLC raised its stake in shares of Micron Technology by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer's stock worth $227,741,000 after buying an additional 20,741 shares in the last quarter. Global X Japan Co. Ltd. grew its stake in shares of Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer's stock worth $5,375,000 after purchasing an additional 9,735 shares during the last quarter. River Road Asset Management LLC raised its holdings in shares of Micron Technology by 9.1% in the 3rd quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer's stock worth $16,933,000 after purchasing an additional 13,573 shares in the last quarter. Chapin Davis Inc. acquired a new stake in Micron Technology during the second quarter valued at approximately $4,056,000. Finally, RWQ Financial Management Services Inc. bought a new stake in Micron Technology during the third quarter worth approximately $1,270,000. Institutional investors and hedge funds own 80.84% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.