Micron Technology (NASDAQ:MU) Stock Price Down 0.1% - Time to Sell?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares traded down 0.1% on Wednesday . The stock traded as low as $96.53 and last traded at $97.59. 2,854,752 shares were traded during trading, a decline of 87% from the average session volume of 21,527,336 shares. The stock had previously closed at $97.73.

Analysts Set New Price Targets

A number of research firms have recently commented on MU. Rosenblatt Securities boosted their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. TD Cowen lifted their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. UBS Group dropped their target price on Micron Technology from $153.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Bank of America increased their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, Citigroup lowered their target price on Micron Technology from $175.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $143.04.

Micron Technology Stock Down 0.8 %

The company has a fifty day moving average of $101.77 and a 200 day moving average of $112.52. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market cap of $107.50 billion, a P/E ratio of 143.52 and a beta of 1.18.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology's payout ratio is 67.65%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company's stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently bought and sold shares of MU. Bessemer Group Inc. lifted its stake in shares of Micron Technology by 2.8% in the 1st quarter. Bessemer Group Inc. now owns 12,635 shares of the semiconductor manufacturer's stock valued at $1,489,000 after purchasing an additional 340 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in Micron Technology by 3,900.0% during the first quarter. Evermay Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $47,000 after buying an additional 390 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Micron Technology in the first quarter valued at $207,000. EntryPoint Capital LLC bought a new stake in shares of Micron Technology in the 1st quarter worth about $41,000. Finally, CreativeOne Wealth LLC boosted its stake in shares of Micron Technology by 22.3% during the 1st quarter. CreativeOne Wealth LLC now owns 4,857 shares of the semiconductor manufacturer's stock worth $573,000 after purchasing an additional 886 shares during the period. 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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