Micron Technology (NASDAQ:MU) Trading Down 0.4% – Should You Sell?

Micron Technology, Inc. (NASDAQ:MU)’s stock price was down 0.4% on Friday . The stock traded as low as $102.09 and last traded at $102.39. Approximately 2,996,003 shares changed hands during trading, a decline of 86% from the average daily volume of 21,469,098 shares. The stock had previously closed at $102.76.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Bank of America upped their target price on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Rosenblatt Securities increased their price objective on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Trading Down 0.1 %

The business has a 50-day moving average of $102.46 and a 200 day moving average of $112.18. The stock has a market cap of $113.80 billion, a PE ratio of 150.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company 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 last year, the business earned ($1.21) EPS. Equities research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new position in Micron Technology in the third quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter valued at $28,000. Davis Capital Management acquired a new position in shares of Micron Technology in the 3rd quarter valued at $30,000. True Wealth Design LLC increased its stake in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. Finally, Richard W. Paul & Associates LLC raised its holdings in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.