Micron Technology (NASDAQ:MU) Trading Down 4.8% - Time to Sell?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price fell 4.8% during mid-day trading on Monday . The stock traded as low as $87.63 and last traded at $88.52. 5,301,901 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 21,774,410 shares. The stock had previously closed at $92.96.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MU. Stifel Nicolaus reduced their target price on shares of Micron Technology from $135.00 to $130.00 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 on the stock in a research report on Thursday, December 19th. Mizuho decreased their price objective on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Sanford C. Bernstein cut their target price on Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. reduced their price target on Micron Technology from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.56.

Micron Technology Trading Down 0.5 %

The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $106.05 billion, a P/E ratio of 27.48 and a beta of 1.23. The company has a 50-day moving average price of $96.35 and a 200 day moving average price of $98.06.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the firm earned ($0.95) EPS. The company's quarterly revenue was up 84.3% compared to the same quarter last year. On average, research analysts forecast 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 Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is presently 13.26%.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

Several institutional investors and hedge funds have recently bought and sold shares of MU. Norges Bank purchased a new position in Micron Technology during the fourth quarter valued at approximately $1,470,875,000. Capital World Investors grew its stake in shares of Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. FMR LLC increased its holdings in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors lifted its stake in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.