Micron Technology (NASDAQ:MU) Shares Down 4.8% - What's Next?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price was down 4.8% on Monday . The stock traded as low as $87.63 and last traded at $88.52. Approximately 5,301,901 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 21,774,410 shares. The stock had previously closed at $92.96.

Analyst Ratings Changes

A number of research analysts recently weighed in on MU shares. UBS Group reduced their price objective on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Morgan Stanley reduced their price target on Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Stifel Nicolaus dropped their price target on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, TD Cowen decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $134.96.

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Micron Technology Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company's 50-day moving average price is $96.12 and its 200 day moving average price is $98.07. The stock has a market capitalization of $99.22 billion, a P/E ratio of 25.66 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm's revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.95) EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 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. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's payout ratio is 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm'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 of the company's stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MU. Swedbank AB grew its holdings in Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer's stock valued at $358,403,000 after purchasing an additional 806,639 shares during the last quarter. Assetmark Inc. boosted its position in shares of Micron Technology by 34.8% during the third quarter. Assetmark Inc. now owns 32,792 shares of the semiconductor manufacturer's stock valued at $3,401,000 after buying an additional 8,464 shares during the period. Mesirow Financial Investment Management Inc. grew its stake in shares of Micron Technology by 35.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 7,761 shares of the semiconductor manufacturer's stock valued at $805,000 after buying an additional 2,014 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Micron Technology during the third quarter valued at approximately $79,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Micron Technology in the third quarter worth approximately $83,000. Hedge funds and other institutional investors 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.

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