Micron Technology (NASDAQ:MU) Stock Price Down 4.8% – Should You Sell?

Shares of Micron Technology, Inc. (NASDAQ:MU) traded down 4.8% during trading on Monday . The company traded as low as $87.63 and last traded at $88.52. 5,301,901 shares were traded during mid-day trading, a decline of 76% from the average session volume of 21,774,410 shares. The stock had previously closed at $92.96.

Analyst Ratings Changes

A number of research firms recently weighed in on MU. Stifel Nicolaus decreased their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. The Goldman Sachs Group dropped their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Finally, TD Cowen cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Stock Down 6.3 %

The company has a market capitalization of $97.02 billion, a P/E ratio of 25.10 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a 50 day moving average of $95.99 and a 200-day moving average of $98.29.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period last year, the company earned ($0.95) EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. Micron Technology’s dividend payout ratio is 13.26%.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

A number of hedge funds have recently made changes to their positions in the stock. Swedbank AB boosted its holdings in Micron Technology by 30.4% in the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after acquiring an additional 806,639 shares in the last quarter. Fiera Capital Corp increased its stake in Micron Technology by 6.9% during the 3rd quarter. Fiera Capital Corp now owns 24,617 shares of the semiconductor manufacturer’s stock valued at $2,553,000 after purchasing an additional 1,592 shares in the last quarter. SpiderRock Advisors LLC raised its holdings in Micron Technology by 14.1% in the third quarter. SpiderRock Advisors LLC now owns 22,966 shares of the semiconductor manufacturer’s stock worth $2,382,000 after buying an additional 2,844 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Micron Technology by 34.8% in the third quarter. Assetmark Inc. now owns 32,792 shares of the semiconductor manufacturer’s stock worth $3,401,000 after buying an additional 8,464 shares in the last quarter. Finally, RKL Wealth Management LLC lifted its stake in shares of Micron Technology by 4.4% in the third quarter. RKL Wealth Management LLC now owns 23,616 shares of the semiconductor manufacturer’s stock worth $2,449,000 after buying an additional 991 shares in the last quarter. 80.84% of the stock is owned by 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.