Micron Technology (NASDAQ:MU) Trading Down 0.4% - What's Next?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) fell 0.4% during trading on Tuesday . The company traded as low as $105.70 and last traded at $105.99. 2,114,229 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 21,939,502 shares. The stock had previously closed at $106.39.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MU shares. Rosenblatt Securities lifted their price target on Micron Technology from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Wells Fargo & Company dropped their price objective on Micron Technology from $190.00 to $175.00 and set an "overweight" rating for the company in a research report on Wednesday, September 18th. Robert W. Baird reduced their price objective on shares of Micron Technology from $172.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, September 27th. TD Cowen boosted their price target on Micron Technology from $115.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, Bank of America increased their target price on Micron Technology from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $143.04.

Micron Technology Stock Up 1.7 %

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 company has a market cap of $119.95 billion, a P/E ratio of -75.90 and a beta of 1.18. The stock has a 50 day moving average price of $99.18 and a 200 day moving average price of $113.68.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business's quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.21) earnings per share. Research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio (DPR) is -32.39%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

Institutional investors have recently made changes to their positions in the business. Atria Investments Inc lifted its holdings in Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer's stock valued at $3,269,000 after purchasing an additional 93 shares during the last quarter. Aspect Partners LLC grew its position in Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer's stock worth $43,000 after acquiring an additional 94 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer's stock valued at $1,003,000 after purchasing an additional 98 shares in the last quarter. LRI Investments LLC raised its position in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer's stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. Finally, Retirement Group LLC boosted its stake in Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer's stock worth $43,000 after purchasing an additional 100 shares in the last quarter. 80.84% of the stock is currently 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.