Micron Technology (NASDAQ:MU) Shares Down 1%

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded down 1% during mid-day trading on Friday . The stock traded as low as $117.35 and last traded at $117.89. 21,047,778 shares were traded during mid-day trading, a decline of 26% from the average session volume of 28,482,330 shares. The stock had previously closed at $119.13.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Susquehanna increased their price objective on Micron Technology from $90.00 to $112.00 and gave the stock a “positive” rating in a research note on Monday, December 18th. Evercore ISI increased their price objective on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, December 21st. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald increased their price objective on Micron Technology from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.69.

Micron Technology Stock Down 1.0 %

The stock has a fifty day moving average price of $91.35 and a 200 day moving average price of $80.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The stock has a market capitalization of $130.55 billion, a P/E ratio of -34.17 and a beta of 1.24.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company earned ($2.03) earnings per share. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. On average, research analysts forecast that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, March 28th. Micron Technology’s dividend payout ratio is -13.33%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the sale, the chief executive officer now owns 788,557 shares in the company, valued at $70,970,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 264,000 shares of company stock valued at $26,368,640. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

A number of large investors have recently added to or reduced their stakes in MU. Fortis Capital Advisors LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $25,000. Tidemark LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $26,000. OFI Invest Asset Management purchased a new position in shares of Micron Technology in the third quarter worth about $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology in the third quarter worth about $28,000. Hedge funds and other institutional investors 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.