Micron Technology (NASDAQ:MU) Trading 4.2% Higher

Micron Technology, Inc. (NASDAQ:MU) shares were up 4.2% during trading on Monday . The stock traded as high as $121.37 and last traded at $119.53. Approximately 10,560,988 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 20,141,805 shares. The stock had previously closed at $114.70.

Wall Street Analyst Weigh In

MU has been the topic of a number of research analyst reports. Cantor Fitzgerald boosted their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Wells Fargo & Company upped their price target on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Monday, March 18th. UBS Group upped their target price on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Micron Technology Stock Up 0.1 %

The company has a market capitalization of $131.73 billion, a price-to-earnings ratio of -34.59 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $110.11 and a two-hundred day moving average price of $90.70.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.03) EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Activity at Micron Technology

In other news, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders sold 316,890 shares of company stock worth $35,485,387 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidemark LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $25,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the 1st quarter valued at approximately $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new position in Micron Technology in the 3rd quarter worth approximately $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Micron Technology in the third quarter valued at approximately $28,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.