Micron Technology (NASDAQ:MU) Shares Down 0.8% – Time to Sell?

Micron Technology, Inc. (NASDAQ:MU)’s stock price was down 0.8% during trading on Friday . The stock traded as low as $103.25 and last traded at $103.97. Approximately 6,526,423 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 24,212,027 shares. The stock had previously closed at $104.84.

Analyst Ratings Changes

Several equities research analysts have commented on MU shares. Raymond James raised their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Sanford C. Bernstein dropped their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Stifel Nicolaus dropped their price target 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. Robert W. Baird dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Wells Fargo & Company dropped their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One investment 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. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Stock Down 1.9 %

The business’s 50 day moving average is $98.22 and its 200 day moving average is $101.72. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a market cap of $114.56 billion, a price-to-earnings ratio of 29.68 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during 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% on a year-over-year basis. During the same quarter last year, the business posted ($0.95) EPS. Equities analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MU. Golden State Equity Partners raised its holdings in Micron Technology by 1,115.0% in the 4th quarter. Golden State Equity Partners now owns 7,351 shares of the semiconductor manufacturer’s stock worth $619,000 after acquiring an additional 6,746 shares during the period. Avantra Family Wealth Inc. acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $524,000. Tritonpoint Wealth LLC boosted its position in shares of Micron Technology by 6.5% during the 4th quarter. Tritonpoint Wealth LLC now owns 2,579 shares of the semiconductor manufacturer’s stock valued at $217,000 after acquiring an additional 158 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Micron Technology by 0.8% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 243,006 shares of the semiconductor manufacturer’s stock valued at $20,451,000 after acquiring an additional 1,859 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Micron Technology by 3.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,994 shares of the semiconductor manufacturer’s stock valued at $2,693,000 after acquiring an additional 1,137 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

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.