Micron Technology (NASDAQ:MU) Shares Down 1.8% - Should You Sell?

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) dropped 1.8% on Monday . The company traded as low as $109.18 and last traded at $109.18. Approximately 3,347,686 shares were traded during trading, a decline of 85% from the average daily volume of 22,192,076 shares. The stock had previously closed at $111.15.

Analyst Ratings Changes

MU has been the topic of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, September 19th. Bank of America upped their price target on shares of Micron Technology from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. TD Cowen upped their price target on shares of Micron Technology from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Raymond James upped their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an "outperform" rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.85.

Micron Technology Stock Down 1.9 %

The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $120.95 billion, a PE ratio of -76.89 and a beta of 1.18. The business's 50-day simple moving average is $98.64 and its 200-day simple moving average is $114.38.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. Micron Technology's payout ratio is -32.39%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm'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 transaction of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company's stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. CHICAGO TRUST Co NA lifted its holdings in Micron Technology by 10.0% in the 1st quarter. CHICAGO TRUST Co NA now owns 4,078 shares of the semiconductor manufacturer's stock valued at $481,000 after purchasing an additional 372 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of Micron Technology during the 1st quarter worth $29,307,000. Wealth Management Partners LLC raised its holdings in shares of Micron Technology by 5.8% during the 1st quarter. Wealth Management Partners LLC now owns 7,759 shares of the semiconductor manufacturer's stock worth $915,000 after acquiring an additional 423 shares during the period. Central Valley Advisors LLC purchased a new position in shares of Micron Technology during the 1st quarter worth $207,000. Finally, Annex Advisory Services LLC raised its holdings in shares of Micron Technology by 4.7% during the 1st quarter. Annex Advisory Services LLC now owns 12,411 shares of the semiconductor manufacturer's stock worth $1,463,000 after acquiring an additional 558 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.