Micron Technology (NASDAQ:MU) Trading Down 0.4% After Analyst Downgrade

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) fell 0.4% during mid-day trading on Friday after Barclays lowered their price target on the stock from $145.00 to $110.00. Barclays currently has an overweight rating on the stock. Micron Technology traded as low as $83.54 and last traded at $86.72. 15,771,937 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 21,870,152 shares. The stock had previously closed at $87.09.

MU has been the subject of a number of other reports. Sanford C. Bernstein decreased their target price on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday. Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday. Mizuho lowered their target price on Micron Technology from $135.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday. Wells Fargo & Company cut their price target on shares of Micron Technology from $175.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, UBS Group lowered their price objective on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $132.26.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 135,830 shares of the company's stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in shares of Micron Technology in the third quarter valued at approximately $26,000. Davis Capital Management bought a new position in Micron Technology during the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its holdings in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after acquiring an additional 296 shares during the last quarter. DT Investment Partners LLC grew its stake in shares of Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC grew its stake in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Price Performance

The company has a market capitalization of $100.40 billion, a P/E ratio of 132.53 and a beta of 1.16. The business's 50-day moving average is $103.14 and its two-hundred day moving average is $108.67. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the company posted ($0.95) earnings per share. Micron Technology's quarterly revenue was up 84.3% compared to the same quarter last year. As a group, analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, December 30th. Micron Technology's payout ratio is currently 13.26%.

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.