Micron Technology (NASDAQ:MU) Stock Price Down 1.4% - Time to Sell?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares dropped 1.4% during mid-day trading on Wednesday . The company traded as low as $63.70 and last traded at $64.64. Approximately 11,564,190 shares were traded during trading, a decline of 50% from the average daily volume of 22,904,569 shares. The stock had previously closed at $65.54.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup decreased their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday. Needham & Company LLC reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, December 19th. TD Cowen dropped their price objective on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Piper Sandler reduced their price objective on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Finally, Stifel Nicolaus dropped their target price on Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.36.

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Micron Technology Trading Down 0.7 %

The company has a 50 day simple moving average of $90.66 and a two-hundred day simple moving average of $97.09. 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 firm has a market cap of $77.73 billion, a PE ratio of 20.04 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. 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 firm earned $0.42 earnings per share. Micron Technology's revenue for the quarter was up 38.2% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.66%. Micron Technology's dividend payout ratio is presently 11.03%.

Insiders Place Their Bets

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

Institutional Trading of Micron Technology

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

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.