Micron Technology (NASDAQ:MU) Trading Up 3.9% - Here's Why

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares traded up 3.9% during trading on Tuesday . The stock traded as high as $69.24 and last traded at $69.33. 5,374,246 shares traded hands during trading, a decline of 77% from the average session volume of 23,147,208 shares. The stock had previously closed at $66.74.

Analyst Upgrades and Downgrades

MU has been the subject of several recent research reports. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Robert W. Baird upped their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. KGI Securities raised Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Finally, Wedbush reiterated an "outperform" rating and set a $125.00 price objective on shares of Micron Technology in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $128.56.

Micron Technology Trading Up 3.4 %

The business's fifty day moving average is $86.69 and its 200-day moving average is $95.27. 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 has a market cap of $84.29 billion, a P/E ratio of 21.73 and a beta of 1.18.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction 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. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Micron Technology

Hedge funds have recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC grew its holdings 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 valued at $50,000 after buying an additional 100 shares during the last quarter. Xcel Wealth Management LLC boosted 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 valued at $518,000 after buying an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Micron Technology by 3.8% in the 4th 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 buying an additional 108 shares in the last quarter. Twin Capital Management Inc. raised its position in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after buying an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock valued at $629,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds 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.