Micron Technology (NASDAQ:MU) Shares Gap Up to $114.70

Micron Technology, Inc. (NASDAQ:MU)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $114.70, but opened at $119.78. Micron Technology shares last traded at $120.61, with a volume of 7,018,084 shares.

Analyst Upgrades and Downgrades

MU has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Needham & Company LLC increased their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $115.00 to $150.00 in a research report on Monday. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Finally, KeyCorp increased their price objective on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $123.60.

Micron Technology Trading Up 4.7 %

The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $108.95 and a two-hundred day moving average of $89.96. The stock has a market capitalization of $132.62 billion, a price-to-earnings ratio of -34.65 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.03) earnings per share. On average, research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available at this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total value of $574,210.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $64,685,330.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 323,890 shares of company stock valued at $36,079,267. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

A number of large investors have recently bought and sold shares of the business. Revolve Wealth Partners LLC boosted its stake in shares of Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares in the last quarter. Retirement Group LLC boosted its position in Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 100 shares in the last quarter. Manchester Capital Management LLC grew its stake in shares of Micron Technology by 5.2% during the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock worth $250,000 after buying an additional 104 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in shares of Micron Technology by 3.1% during the first quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer’s stock worth $493,000 after buying an additional 124 shares in the last quarter. Finally, Sandy Spring Bank boosted its holdings in shares of Micron Technology by 11.1% during the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after acquiring an additional 130 shares in the last quarter. 80.84% of the stock is currently owned by 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.