Micron Technology (NASDAQ:MU) Stock Price Up 3.5% - What's Next?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) was up 3.5% on Monday . The company traded as high as $96.26 and last traded at $95.56. Approximately 5,028,234 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 23,623,592 shares. The stock had previously closed at $92.30.

Analyst Ratings Changes

A number of analysts have recently issued reports on MU shares. Robert W. Baird dropped their price objective on shares of Micron Technology from $150.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, December 19th. Needham & Company LLC dropped their price target on Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Bank of America downgraded Micron Technology from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Finally, Mizuho reduced their price target on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. One equities 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 stock. According to data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $134.96.

Micron Technology Stock Performance

The firm has a market capitalization of $104.82 billion, a PE ratio of 27.11 and a beta of 1.18. 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 business's 50 day simple moving average is $96.58 and its two-hundred day simple moving average is $98.88.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business's revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.95) EPS. Research analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is currently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Hedge funds have recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the 3rd quarter valued at $26,000. Beacon Capital Management LLC increased its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after acquiring an additional 296 shares during the period. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter worth about $33,000. Finally, DT Investment Partners LLC boosted its stake in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 235 shares during the period. Hedge funds and other 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.