Micron Technology (NASDAQ:MU) Trading Up 1.6%

Shares of Micron Technology, Inc. (NASDAQ:MU) shot up 1.6% during trading on Friday . The stock traded as high as $115.45 and last traded at $114.08. 4,302,843 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 20,125,238 shares. The stock had previously closed at $112.33.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MU shares. TD Cowen boosted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Robert W. Baird lifted their price target on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Wedbush increased their price objective on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Piper Sandler raised their price objective on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, Bank of America upped their target price on Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Trading Up 2.1 %

The stock’s fifty day simple moving average is $108.95 and its 200-day simple moving average is $89.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a market cap of $126.63 billion, a PE ratio of -33.25 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the firm earned ($2.03) EPS. The firm’s revenue was up 57.7% on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now owns 788,557 shares in the company, valued at $66,901,175.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $66,901,175.88. The disclosure for this sale can be found here. Insiders have sold a total of 323,890 shares of company stock worth $36,079,267 over the last quarter. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently made changes to their positions in MU. Revolve Wealth Partners LLC lifted its stake in Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after buying an additional 98 shares in the last quarter. Retirement Group LLC lifted its position in shares of Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC boosted its stake in shares of Micron Technology by 3.1% during the first quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer’s stock valued at $493,000 after acquiring an additional 124 shares during the last quarter. Sandy Spring Bank increased its position in Micron Technology by 11.1% during the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after purchasing an additional 130 shares in the last quarter. Finally, PDS Planning Inc raised its stake in Micron Technology by 3.4% in the 1st quarter. PDS Planning Inc now owns 3,943 shares of the semiconductor manufacturer’s stock valued at $465,000 after purchasing an additional 130 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other 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.