Micron Technology (NASDAQ:MU) Stock Price Up 1% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU) shares traded up 1% during trading on Thursday . The stock traded as high as $113.15 and last traded at $112.99. 4,292,257 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 21,752,850 shares. The stock had previously closed at $111.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wedbush reiterated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Wells Fargo & Company decreased their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Stifel Nicolaus cut their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Rosenblatt Securities lifted their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Stock Down 1.3 %

The firm has a market capitalization of $124.07 billion, a price-to-earnings ratio of 164.56 and a beta of 1.18. The stock has a fifty day moving average of $100.16 and a two-hundred day moving average of $113.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for 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%. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.21) earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds have recently bought and sold shares of the company. Atria Investments Inc increased its position in shares of Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares during the last quarter. Aspect Partners LLC raised its stake in shares of 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 purchasing an additional 94 shares during the period. Ameritas Advisory Services LLC boosted its holdings in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares during the last quarter. LRI Investments LLC increased its holdings in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during the last quarter. Finally, E&G Advisors LP raised its position in Micron Technology by 5.2% in the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock worth $265,000 after acquiring an additional 100 shares during the period. 80.84% of the stock is 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.