Micron Technology (NASDAQ:MU) Trading 3.8% Higher - Still a Buy?

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) traded up 3.8% during trading on Monday . The company traded as high as $103.62 and last traded at $103.47. 4,748,057 shares traded hands during trading, a decline of 78% from the average session volume of 21,833,068 shares. The stock had previously closed at $99.73.

Analyst Upgrades and Downgrades

MU has been the subject of several research reports. Needham & Company LLC restated a "buy" rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Robert W. Baird decreased their price objective on Micron Technology from $172.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, September 27th. Bank of America lifted their target price on Micron Technology from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. Finally, Raymond James lifted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $143.04.

Micron Technology Trading Up 2.0 %

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a market cap of $112.79 billion, a price-to-earnings ratio of 149.60 and a beta of 1.18. The business has a fifty day simple moving average of $99.00 and a 200-day simple moving average of $113.11.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the company earned ($1.21) EPS. The firm's revenue was up 93.3% compared to the same quarter last year. As a group, equities analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology's dividend payout ratio (DPR) is presently 67.65%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC grew its holdings in Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer's stock worth $227,741,000 after purchasing an additional 20,741 shares during the period. Global X Japan Co. Ltd. increased its position in Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer's stock valued at $5,375,000 after buying an additional 9,735 shares in the last quarter. Chapin Davis Inc. acquired a new position in Micron Technology during the 2nd quarter worth approximately $4,056,000. Handelsbanken Fonder AB boosted its holdings in Micron Technology by 2.4% in the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer's stock worth $45,072,000 after acquiring an additional 9,992 shares in the last quarter. Finally, Kempner Capital Management Inc. grew its stake in Micron Technology by 16.8% in the third quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer's stock valued at $9,769,000 after acquiring an additional 13,581 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

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.