Micron Technology (NASDAQ:MU) Stock Price Down 1.3% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded down 1.3% during mid-day trading on Wednesday . The company traded as low as $104.87 and last traded at $106.38. 4,462,803 shares were traded during trading, a decline of 80% from the average session volume of 22,117,803 shares. The stock had previously closed at $107.82.

Wall Street Analyst Weigh In

MU has been the topic of a number of research reports. KeyCorp dropped their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Stifel Nicolaus dropped their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Robert W. Baird reduced their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Morgan Stanley increased their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Citigroup reduced their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm has a market cap of $118.48 billion, a price-to-earnings ratio of -75.25 and a beta of 1.18. The firm’s 50 day moving average price is $99.23 and its 200-day moving average price is $114.10.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the company earned ($1.21) earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology 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 sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC grew its stake in Micron Technology by 8.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 11,053 shares of the semiconductor manufacturer’s stock worth $1,303,000 after buying an additional 815 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Micron Technology by 13.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,479 shares of the semiconductor manufacturer’s stock valued at $9,016,000 after purchasing an additional 9,179 shares during the last quarter. Courier Capital LLC boosted its stake in Micron Technology by 5.9% in the first quarter. Courier Capital LLC now owns 9,015 shares of the semiconductor manufacturer’s stock worth $1,063,000 after purchasing an additional 500 shares in the last quarter. Capital Asset Advisory Services LLC bought a new stake in Micron Technology during the 1st quarter worth about $631,000. Finally, Calton & Associates Inc. acquired a new stake in Micron Technology in the 1st quarter valued at about $252,000. Institutional investors and hedge funds 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.