Micron Technology (NASDAQ:MU) Trading Down 0.5% – Time to Sell?

Micron Technology, Inc. (NASDAQ:MU)’s share price fell 0.5% on Monday . The company traded as low as $106.47 and last traded at $107.38. 3,607,835 shares traded hands during trading, a decline of 84% from the average session volume of 21,992,637 shares. The stock had previously closed at $107.91.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. TD Cowen lifted their price target on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Rosenblatt Securities increased their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. China Renaissance initiated coverage on Micron Technology in a research report on Monday. They issued a “buy” rating and a $148.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $118.37 billion, a P/E ratio of -75.62 and a beta of 1.18. The business’s 50-day moving average price is $99.22 and its 200 day moving average price is $113.83.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.21) earnings per share. Analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is -32.39%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds have recently modified their holdings of MU. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Micron Technology by 61.0% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 241,147 shares of the semiconductor manufacturer’s stock worth $25,009,000 after buying an additional 91,392 shares during the last quarter. HM Payson & Co. boosted its holdings in Micron Technology by 93.3% in the third quarter. HM Payson & Co. now owns 574 shares of the semiconductor manufacturer’s stock valued at $60,000 after acquiring an additional 277 shares in the last quarter. Davis Rea LTD. increased its position in Micron Technology by 250.0% during the 3rd quarter. Davis Rea LTD. now owns 70,000 shares of the semiconductor manufacturer’s stock valued at $7,260,000 after purchasing an additional 50,000 shares during the period. Catalyst Financial Partners LLC raised its holdings in Micron Technology by 12.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 4,994 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 572 shares in the last quarter. Finally, Ayalon Insurance Comp Ltd. lifted its position in shares of Micron Technology by 4.7% in the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 27,882 shares of the semiconductor manufacturer’s stock worth $2,892,000 after purchasing an additional 1,258 shares during the period. 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.