Micron Technology, Inc. (NASDAQ:MU) Short Interest Update

Micron Technology, Inc. (NASDAQ:MUGet Rating) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 25,780,000 shares, an increase of 21.3% from the April 15th total of 21,250,000 shares. Based on an average daily trading volume, of 23,000,000 shares, the days-to-cover ratio is currently 1.1 days. Approximately 2.3% of the company’s shares are sold short.

In other news, SVP April S. Arnzen sold 5,600 shares of Micron Technology stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $76.00, for a total transaction of $425,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of MU. SOA Wealth Advisors LLC. grew its holdings in shares of Micron Technology by 144.9% during the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 200 shares during the period. Concorde Financial Corp purchased a new stake in shares of Micron Technology during the 4th quarter worth about $27,000. Selective Wealth Management Inc. purchased a new stake in shares of Micron Technology during the 4th quarter worth about $28,000. Core Alternative Capital grew its holdings in shares of Micron Technology by 912.5% during the 1st quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 365 shares during the period. Finally, Sterling Investment Advisors Ltd. grew its holdings in shares of Micron Technology by 600.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 300 shares during the period. Institutional investors own 80.35% of the company’s stock.

A number of research firms have issued reports on MU. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 price target on shares of Micron Technology in a report on Wednesday, March 30th. Morgan Stanley raised their target price on shares of Micron Technology from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 30th. Susquehanna reissued a “buy” rating and set a $115.00 target price on shares of Micron Technology in a report on Monday. Wedbush raised shares of Micron Technology from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $120.00 in a report on Monday, February 14th. Finally, Mizuho lifted their price objective on shares of Micron Technology from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, March 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $112.92.

MU stock traded down $1.61 during trading on Wednesday, hitting $72.87. The stock had a trading volume of 359,153 shares, compared to its average volume of 18,306,262. The company’s 50 day moving average price is $73.35 and its two-hundred day moving average price is $81.37. Micron Technology has a 1-year low of $65.67 and a 1-year high of $98.45. The stock has a market cap of $81.37 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 0.25 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.33 and a current ratio of 3.11.

Micron Technology (NASDAQ:MUGet Rating) last posted its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $1.85 by $0.20. The company had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.53 billion. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts forecast that Micron Technology will post 9.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Shareholders of record on Monday, April 11th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, April 8th. Micron Technology’s dividend payout ratio (DPR) is 5.03%.

Micron Technology Company Profile (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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