Micron Technology (NASDAQ:MU) Trading Down 6.6% – Here’s What Happened

Micron Technology, Inc. (NASDAQ:MU)’s share price fell 6.6% during mid-day trading on Friday . The company traded as low as $719.00 and last traded at $724.66. 47,828,987 shares traded hands during trading, an increase of 13% from the average session volume of 42,192,473 shares. The stock had previously closed at $776.01.

Key Stories Impacting Micron Technology

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Analysts and market commentary continue to highlight Micron as a major beneficiary of AI-driven demand for HBM, DRAM, and SSDs, with tight supply supporting pricing power. How The AI Memory Cycle Is Rewriting The Story For Micron Technology (MU)
• Positive Sentiment: Recent research notes have raised earnings estimates, reinforcing the view that Micron’s AI memory demand could translate into stronger profits over the next few years. Micron Technology analyst estimate updates
• Positive Sentiment: Articles throughout the session point to continued hyperscaler AI spending and a broader semiconductor boom, which supports the investment case for Micron and the memory-chip group. Money Pit? Zuckerberg Just Exposed Why Hyperscaler AI Spending Keeps Going Up
• Neutral Sentiment: Some bullish coverage says Micron could still have more upside if AI memory shortages persist, but that optimism is already very well known to investors. Is It Too Late to Buy Micron Technology Stock After Its 12-Month Gain of 700%?
• Negative Sentiment: Micron is being hit by a broader semiconductor selloff tied to worries about China-related chip sales and uncertainty after the U.S.-China summit, which has pressured sentiment across the group. Why Micron Stock Just Dropped
• Negative Sentiment: Investors also appear to be locking in gains after Micron’s rapid rally to record highs, making the stock vulnerable to sharp swings when news turns less favorable. Why is Micron stock stumbling today?

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MU. Wedbush boosted their target price on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, March 13th. Wells Fargo & Company boosted their target price on Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Citigroup cut their target price on Micron Technology from $510.00 to $425.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. TD Cowen boosted their target price on Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Susquehanna boosted their target price on Micron Technology from $345.00 to $525.00 and gave the stock a “positive” rating in a research report on Monday, March 9th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Buy” and a consensus target price of $495.63.

Micron Technology Stock Down 6.6%

The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market cap of $817.22 billion, a PE ratio of 34.21 and a beta of 1.91. The business has a fifty day moving average price of $472.61 and a two-hundred day moving average price of $368.17.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. Micron Technology’s dividend payout ratio is presently 2.83%.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the transaction, the director owned 17,139 shares in the company, valued at $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the transaction, the executive vice president owned 224,021 shares in the company, valued at $94,391,248.35. This trade represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 106,000 shares of company stock worth $47,032,460. 0.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quadcap Wealth Management LLC boosted its stake in shares of Micron Technology by 41.5% during the 1st quarter. Quadcap Wealth Management LLC now owns 2,464 shares of the semiconductor manufacturer’s stock worth $832,000 after acquiring an additional 723 shares in the last quarter. Weiss Asset Management LP boosted its stake in shares of Micron Technology by 232.2% during the 1st quarter. Weiss Asset Management LP now owns 95,004 shares of the semiconductor manufacturer’s stock worth $32,096,000 after acquiring an additional 66,403 shares in the last quarter. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Micron Technology during the 1st quarter worth about $2,872,000. Insight Holdings Group LLC bought a new stake in shares of Micron Technology during the 1st quarter worth about $223,000. Finally, Everest Financial Group LLC boosted its stake in shares of Micron Technology by 2.3% during the 1st quarter. Everest Financial Group LLC now owns 21,530 shares of the semiconductor manufacturer’s stock worth $7,274,000 after acquiring an additional 478 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.