Micron Technology (NASDAQ:MU) Stock Price Up 2.1% - Should You Buy?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shot up 2.1% during trading on Friday . The stock traded as high as $105.00 and last traded at $104.75. 6,046,556 shares changed hands during trading, a decline of 76% from the average session volume of 25,174,287 shares. The stock had previously closed at $102.60.

Wall Street Analysts Forecast Growth

MU has been the topic of several research analyst reports. KeyCorp dropped their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 8th. Wedbush restated an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. TD Cowen dropped their target price on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Stifel Nicolaus decreased their price target on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $135.24.

Micron Technology Price Performance

The company has a 50-day moving average of $97.87 and a 200 day moving average of $102.27. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. During the same quarter in the prior year, the company earned ($0.95) EPS. Micron Technology's revenue was up 84.3% compared to the same quarter last year. Sell-side analysts predict that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology's dividend payout ratio (DPR) is 13.26%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company's stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently modified their holdings of MU. Highline Wealth Partners LLC purchased a new position in Micron Technology in the 3rd quarter valued at approximately $26,000. Davis Capital Management purchased a new stake in Micron Technology during the 3rd quarter worth about $30,000. True Wealth Design LLC raised its position in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. DT Investment Partners LLC boosted 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 valued at $34,000 after buying an additional 235 shares during the period. Finally, Stone House Investment Management LLC grew its position in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

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.