Micron Technology (NASDAQ:MU) Shares Down 2% – Here’s What Happened

Micron Technology, Inc. (NASDAQ:MU) dropped 2% on Monday . The stock traded as low as $239.46 and last traded at $241.95. Approximately 30,122,708 shares were traded during trading, an increase of 28% from the average daily volume of 23,479,709 shares. The stock had previously closed at $246.83.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on shares of Micron Technology from $145.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Rosenblatt Securities upped their price target on Micron Technology from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley raised their price objective on shares of Micron Technology from $220.00 to $325.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus upped their target price on shares of Micron Technology from $173.00 to $195.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, KGI Securities raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $211.18.

Micron Technology Trading Down 2.0%

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The business’s 50-day simple moving average is $193.55 and its 200-day simple moving average is $140.18. The company has a market cap of $271.58 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 0.51 and a beta of 1.62.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.17. The company had revenue of $11.32 billion during the quarter, compared to the consensus estimate of $11.05 billion. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.Micron Technology’s revenue was up 46.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Friday, October 3rd were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is 6.06%.

Insider Transactions at Micron Technology

In other news, CFO Mark J. Murphy sold 126,000 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $225.31, for a total value of $28,389,060.00. Following the transaction, the chief financial officer directly owned 219,693 shares in the company, valued at $49,499,029.83. This trade represents a 36.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott J. Deboer sold 82,000 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the completion of the sale, the executive vice president directly owned 154,145 shares of the company’s stock, valued at $34,345,047.45. The trade was a 34.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 409,756 shares of company stock valued at $85,308,033. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares in the last quarter. Edgestream Partners L.P. increased its position in shares of Micron Technology by 84.0% during the first quarter. Edgestream Partners L.P. now owns 8,630 shares of the semiconductor manufacturer’s stock worth $750,000 after acquiring an additional 3,940 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Micron Technology by 9.0% in the first quarter. Kingsview Wealth Management LLC now owns 5,303 shares of the semiconductor manufacturer’s stock worth $461,000 after acquiring an additional 436 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Micron Technology by 4.2% in the first quarter. Private Advisor Group LLC now owns 102,349 shares of the semiconductor manufacturer’s stock worth $8,893,000 after acquiring an additional 4,172 shares in the last quarter. Finally, Formidable Asset Management LLC boosted its holdings in Micron Technology by 18.3% in the first quarter. Formidable Asset Management LLC now owns 6,042 shares of the semiconductor manufacturer’s stock valued at $525,000 after purchasing an additional 935 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.