Micron Technology (NASDAQ:MU) Stock Price Down 2.6% - Should You Sell?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) dropped 2.6% on Monday . The stock traded as low as $78.38 and last traded at $77.70. Approximately 4,540,564 shares traded hands during trading, a decline of 80% from the average daily volume of 23,210,049 shares. The stock had previously closed at $79.78.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MU shares. Barclays dropped their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Rosenblatt Securities reduced their price target on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Citigroup dropped their price objective on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a report on Wednesday, March 19th. Finally, Morgan Stanley upped their target price on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.56.

Micron Technology Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company's fifty day simple moving average is $85.71 and its 200-day simple moving average is $94.82. The firm has a market capitalization of $86.60 billion, a PE ratio of 22.35 and a beta of 1.18.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MU. SOA Wealth Advisors LLC. raised its position in Micron Technology by 37.6% during the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer's stock valued at $123,000 after buying an additional 325 shares during the period. SkyView Investment Advisors LLC lifted its position in Micron Technology by 3.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer's stock worth $694,000 after acquiring an additional 241 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its stake in shares of Micron Technology by 524.2% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer's stock worth $1,541,000 after acquiring an additional 12,482 shares during the last quarter. World Investment Advisors LLC grew its position in Micron Technology by 103.7% during the third quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer's stock worth $344,000 after buying an additional 1,688 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in shares of Micron Technology during the 3rd quarter valued at about $21,406,000. Institutional investors 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.

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