Micron Technology (NASDAQ:MU) Shares Gap Up - Time to Buy?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $69.55, but opened at $74.67. Micron Technology shares last traded at $72.47, with a volume of 8,011,623 shares trading hands.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research reports. Wedbush reiterated an "outperform" rating and issued a $125.00 target price on shares of Micron Technology in a report on Monday, March 17th. UBS Group raised their price target on Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Mizuho dropped their price objective on Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Barclays boosted their target price on shares of Micron Technology from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, Needham & Company LLC reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.36.

Micron Technology Price Performance

The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $82.35 billion, a P/E ratio of 21.24 and a beta of 1.18. The company has a 50 day moving average of $90.66 and a 200-day moving average of $97.00.

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Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The business's revenue was up 38.2% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.62%. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Trivant Custom Portfolio Group LLC grew its stake in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after purchasing an additional 100 shares during the period. Xcel Wealth Management LLC grew its stake in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after acquiring an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after acquiring an additional 108 shares during the period. Twin Capital Management Inc. grew its position in shares of Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after purchasing an additional 108 shares in the last quarter. Finally, Lebenthal Global Advisors LLC increased its holdings in shares of Micron Technology by 1.5% in the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock worth $629,000 after purchasing an additional 114 shares during the period. 80.84% of the stock is owned by institutional investors.

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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