Micron Technology (NASDAQ:MU) Trading Down 1.6% - What's Next?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price traded down 1.6% during trading on Tuesday . The stock traded as low as $100.29 and last traded at $101.48. 4,224,556 shares traded hands during trading, a decline of 81% from the average session volume of 22,698,897 shares. The stock had previously closed at $103.11.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays boosted their target price on Micron Technology from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley lifted their price target on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Friday. Wedbush restated an "outperform" rating and issued a $125.00 price target on shares of Micron Technology in a research report on Monday, March 17th. Stifel Nicolaus decreased 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 report on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price target on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $132.63.

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Micron Technology Stock Performance

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's 50 day moving average is $96.82 and its 200-day moving average is $98.34. The firm has a market cap of $105.53 billion, a price-to-earnings ratio of 27.30 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the business earned $0.42 EPS. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's payout ratio is presently 11.03%.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Stonebrook Private Inc. increased its position in shares of Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock worth $255,000 after acquiring an additional 98 shares in the last quarter. Trivant Custom Portfolio Group LLC increased its position in shares of Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after acquiring an additional 100 shares in the last quarter. Xcel Wealth Management LLC increased its position in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $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 position in shares of Micron Technology by 3.8% during the fourth 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 in the last quarter. Finally, Twin Capital Management Inc. increased its position in shares of Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

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.