Micron Technology (NASDAQ:MU) Trading Down 0.3% – Should You Sell?

Shares of Micron Technology, Inc. (NASDAQ:MU) dropped 0.3% on Monday . The stock traded as low as $96.10 and last traded at $97.95. 13,729,436 shares traded hands during trading, a decline of 36% from the average daily volume of 21,452,131 shares. The stock had previously closed at $98.20.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Susquehanna decreased their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Morgan Stanley upped their target price on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Robert W. Baird lowered their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. One research 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Stock Down 0.3 %

The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market cap of $109.12 billion, a price-to-earnings ratio of 144.05 and a beta of 1.18. The business has a fifty day moving average price of $103.60 and a two-hundred day moving average price of $111.32.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for 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%. Micron Technology’s revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.21) EPS. On average, equities analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued 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 0.47%. Micron Technology’s dividend payout ratio is 67.65%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’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 value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Large investors have recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in Micron Technology in the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology during the 2nd quarter valued at $28,000. Davis Capital Management bought a new stake in Micron Technology in the 3rd quarter valued at $30,000. True Wealth Design LLC grew its position in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the last quarter. Finally, Richard W. Paul & Associates LLC increased its holdings in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. 80.84% of the stock is owned by 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.