Micron Technology (NASDAQ:MU) Trading Up 0.6% – Should You Buy?

Micron Technology, Inc. (NASDAQ:MU)’s share price shot up 0.6% during trading on Thursday . The stock traded as high as $104.80 and last traded at $103.80. 6,377,761 shares traded hands during trading, a decline of 76% from the average session volume of 26,172,996 shares. The stock had previously closed at $103.19.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research analyst reports. Mizuho cut their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Barclays decreased their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. China Renaissance started coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price target for the company. Cantor Fitzgerald lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, KeyCorp dropped their target price 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Micron Technology Stock Up 0.1 %

The company has a market capitalization of $115.04 billion, a PE ratio of 29.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company’s 50-day moving average is $98.39 and its 200 day moving average is $102.65.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.95) earnings per share. As a group, analysts anticipate that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Micron Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new position in Micron Technology in the third quarter worth about $26,000. Davis Capital Management bought a new position in shares of Micron Technology during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC raised its holdings in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 296 shares during the period. DT Investment Partners LLC increased its position in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC lifted its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

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.