Micron Technology (NASDAQ:MU) Trading 1.4% Higher – What’s Next?

Micron Technology, Inc. (NASDAQ:MU) rose 1.4% during trading on Friday . The stock traded as high as $89.14 and last traded at $88.53. Approximately 5,342,647 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 11,695,287 shares. The stock had previously closed at $87.33.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MU. Barclays decreased their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Morgan Stanley lowered their target price on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Robert W. Baird lowered their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

Micron Technology Trading Up 2.3 %

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a 50-day moving average of $99.42 and a two-hundred day moving average of $105.69. The company has a market cap of $99.51 billion, a P/E ratio of 131.34 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last announced 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 company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.95) EPS. On average, equities research 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 will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be paid a $0.115 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Financial Counselors Inc. purchased a new position in Micron Technology during the second quarter valued at $211,000. Fiera Capital Corp lifted its position in shares of Micron Technology by 15.5% during the 2nd quarter. Fiera Capital Corp now owns 23,025 shares of the semiconductor manufacturer’s stock valued at $3,028,000 after buying an additional 3,098 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at approximately $227,000. Cozad Asset Management Inc. increased its holdings in Micron Technology by 1.6% in the 2nd quarter. Cozad Asset Management Inc. now owns 11,130 shares of the semiconductor manufacturer’s stock worth $1,464,000 after acquiring an additional 170 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its holdings in Micron Technology by 28.0% during the second quarter. Simon Quick Advisors LLC now owns 3,702 shares of the semiconductor manufacturer’s stock valued at $487,000 after purchasing an additional 809 shares in the last quarter. Hedge funds and other institutional investors 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.