Micron Technology (NASDAQ:MU) Trading Up 0.7% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU) was up 0.7% during trading on Wednesday . The company traded as high as $92.75 and last traded at $91.82. Approximately 3,099,223 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 22,063,305 shares. The stock had previously closed at $91.20.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MU shares. JPMorgan Chase & Co. dropped their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald dropped their target price on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Morgan Stanley lowered their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Needham & Company LLC cut their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Trading Up 3.9 %

The stock has a market capitalization of $105.61 billion, a price-to-earnings ratio of 27.38 and a beta of 1.18. The business has a 50-day moving average of $95.81 and a 200-day moving average of $98.63. 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 announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.95) earnings per share. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MU. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology in the fourth quarter worth $26,000. Beacon Capital Management LLC increased its position in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology during the fourth quarter worth about $33,000. Finally, Stone House Investment Management LLC increased its holdings in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.