Micron Technology (NASDAQ:MU) Trading Down 3.3% – Should You Sell?

Micron Technology, Inc. (NASDAQ:MU)’s stock price was down 3.3% during mid-day trading on Monday . The stock traded as low as $107.30 and last traded at $108.20. Approximately 4,278,195 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 21,675,309 shares. The stock had previously closed at $111.90.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. KeyCorp reduced their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Robert W. Baird dropped their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. Finally, Susquehanna dropped their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Price Performance

The firm has a market capitalization of $110.79 billion, a P/E ratio of 147.27 and a beta of 1.18. 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 business’s 50 day moving average is $100.72 and its 200-day moving average is $113.03.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.21) earnings per share. As a group, sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.46%. Micron Technology’s dividend payout ratio is presently 67.65%.

Insider Buying and Selling

In related 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 sale, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new stake in Micron Technology in the third quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth approximately $28,000. Davis Capital Management bought a new stake in shares of Micron Technology in the 3rd quarter valued at $30,000. Richard W. Paul & Associates LLC lifted its position in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the period. Finally, DT Investment Partners LLC boosted its stake in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Institutional investors and hedge funds 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.