Micron Technology (NASDAQ:MU) Trading Down 3% – Should You Sell?

Micron Technology, Inc. (NASDAQ:MU)’s stock price was down 3% on Wednesday . The company traded as low as $101.01 and last traded at $101.02. Approximately 5,258,933 shares were traded during trading, a decline of 76% from the average daily volume of 21,644,889 shares. The stock had previously closed at $104.10.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research reports. Citigroup reduced their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. TD Cowen boosted their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Down 0.7 %

The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $100.93 and a 200 day moving average of $112.94. The firm has a market capitalization of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the business posted ($1.21) earnings per share. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. As a group, analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the business’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 completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Nwam LLC lifted its holdings in shares of Micron Technology by 50.0% in the first quarter. Nwam LLC now owns 9,604 shares of the semiconductor manufacturer’s stock valued at $1,144,000 after buying an additional 3,202 shares during the period. Banco Santander S.A. lifted its holdings in Micron Technology by 96.2% in the 1st quarter. Banco Santander S.A. now owns 94,799 shares of the semiconductor manufacturer’s stock valued at $11,176,000 after acquiring an additional 46,488 shares during the last quarter. M&G Plc bought a new position in shares of Micron Technology during the 1st quarter valued at about $15,172,000. Intech Investment Management LLC grew its stake in shares of Micron Technology by 6.5% in the 1st quarter. Intech Investment Management LLC now owns 44,025 shares of the semiconductor manufacturer’s stock worth $5,190,000 after purchasing an additional 2,701 shares during the last quarter. Finally, Alera Investment Advisors LLC bought a new stake in shares of Micron Technology in the 1st quarter worth approximately $258,000. 80.84% of the stock is owned by institutional investors and hedge funds.

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.