Micron Technology (NASDAQ:MU) Stock Price Down 0.5% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU) shares traded down 0.5% during mid-day trading on Monday . The company traded as low as $106.47 and last traded at $107.38. 3,607,835 shares changed hands during trading, a decline of 84% from the average session volume of 21,992,637 shares. The stock had previously closed at $107.91.

Wall Street Analysts Forecast Growth

MU has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. UBS Group dropped their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Raymond James lifted their target price on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Bank of America upped their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Trading Up 1.7 %

The stock has a market cap of $119.95 billion, a price-to-earnings ratio of -76.18 and a beta of 1.18. The business’s 50 day moving average is $99.18 and its 200 day moving average is $113.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

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

Micron Technology Announces Dividend

The business also recently declared 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 0.43%. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’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 transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MU. Intact Investment Management Inc. boosted its stake in shares of Micron Technology by 57.2% during the third quarter. Intact Investment Management Inc. now owns 5,660 shares of the semiconductor manufacturer’s stock worth $587,000 after buying an additional 2,060 shares during the period. Citizens National Bank Trust Department acquired a new stake in Micron Technology during the 3rd quarter worth approximately $1,280,000. KG&L Capital Management LLC purchased a new position in shares of Micron Technology in the 3rd quarter valued at approximately $1,178,000. RWQ Financial Management Services Inc. acquired a new position in shares of Micron Technology in the third quarter valued at approximately $1,270,000. Finally, BSW Wealth Partners increased its holdings in shares of Micron Technology by 20.5% in the third quarter. BSW Wealth Partners now owns 4,457 shares of the semiconductor manufacturer’s stock valued at $462,000 after purchasing an additional 759 shares during the period. 80.84% of the stock is owned by hedge funds and other 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.