Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shares rose 1.1% during trading on Friday. The company last traded at $110.16 and the last trade was $108.61. Approximately 5,803,173 shares traded during the trading day, a decline of 72% from the average daily volume of 20,930,775 shares. The stock had previously closed at $107.45.
Changes in analyst ratings
Several analysts have recently commented on MU stock. KeyCorp increased their price target on shares of Micron Technology from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Needham & Company LLC increased their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Barclays increased their price target on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, Stifel Nicolaus increased their price target on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating for the company. According to MarketBeat, the company has an average rating of a “Moderate Buy” and a consensus price target of $158.72.
View our latest stock report on Micron Technology
Micron Technology Trading rises 1.8%
The company has a quick ratio of 2.16, a current ratio of 3.41, and a debt-to-equity ratio of 0.29. The company’s 50-day simple moving average is $131.01 and its 200-day simple moving average is $112.04. The company has a market capitalization of $121.32 billion, a P/E ratio of -77.05 and a beta of 1.18.
Micron Technology (NASDAQ:MU – Get Free Report) released its latest quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period a year ago, the company earned $1.57 earnings per share. Micron Technology’s revenue for the quarter increased 81.5% on a year-over-year basis. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current year.
Micron Technology Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents an annualized dividend of $0.46 and a yield of 0.42%. Micron Technology’s dividend payout ratio is currently -32.39%.
Insiders place their bets
In other news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the transaction, the Executive Vice President now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Senior Vice President Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the Senior Vice President now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The disclosure for this sale can be found here. Insiders have sold a total of 236,730 shares of the company’s stock worth $29,435,039 in the last ninety days. 0.32% of the shares are owned by insiders.
Institutional inputs and outputs
Several institutional investors and hedge funds have made recent changes to their positions in the company. Vanguard Group Inc. increased its holdings in Micron Technology by 1.8% in the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after acquiring an additional 1,681,815 shares in the last quarter. Capital World Investors increased its holdings in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after acquiring an additional 1,400,154 shares in the last quarter. Sanders Capital LLC increased its holdings in Micron Technology by 2.3% in the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after acquiring an additional 503,923 shares in the last quarter. Capital International Investors increased its holdings in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after acquiring an additional 2,397,885 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after acquiring an additional 3,315,988 shares in the last quarter. 80.84% of the shares are currently held by hedge funds and other institutional investors.
About Micron Technology
(Get the free report)
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising low-latency dynamic random-access memory semiconductor devices that provide high-speed data retrieval; rewritable nonvolatile semiconductor storage devices; and rewritable nonvolatile semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through its own brands.
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