Micron Technology (NASDAQ:MU) Shares Down 10.8% – Should You Sell?

Micron Technology, Inc. (NASDAQ:MU) shares were down 10.8% during mid-day trading on Monday . The stock traded as low as $92.51 and last traded at $92.06. Approximately 17,527,897 shares traded hands during trading, a decline of 29% from the average daily volume of 24,559,479 shares. The stock had previously closed at $103.19.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MU shares. Wedbush reiterated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. Stifel Nicolaus reduced their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. China Renaissance started coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price target for the company. Morgan Stanley cut their price objective on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Finally, Mizuho dropped their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Trading Down 12.8 %

The stock has a market cap of $100.22 billion, a price-to-earnings ratio of 26.07 and a beta of 1.18. The business has a 50-day simple moving average of $98.36 and a two-hundred day simple moving average of $101.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the firm earned ($0.95) earnings per share. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.51%. Micron Technology’s payout ratio is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Stonebrook Private Inc. lifted its holdings in shares of Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares in the last quarter. John G Ullman & Associates Inc. raised its holdings in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Trust Co. of Vermont boosted its holdings in shares of Micron Technology by 14.3% during the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after acquiring an additional 103 shares in the last quarter. Finally, PDS Planning Inc grew its position in Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after acquiring an additional 104 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.