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

Shares of Micron Technology, Inc. (NASDAQ:MU) were down 0.5% during mid-day trading on Tuesday . The company traded as low as $96.51 and last traded at $97.04. Approximately 2,407,196 shares traded hands during trading, a decline of 89% from the average daily volume of 21,559,512 shares. The stock had previously closed at $97.51.

Analyst Ratings Changes

A number of equities research analysts have commented on MU shares. Stifel Nicolaus lowered their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. UBS Group dropped their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Rosenblatt Securities upped their target price on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. China Renaissance started coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock’s 50-day simple moving average is $101.93 and its two-hundred day simple moving average is $112.42. The stock has a market cap of $109.07 billion, a price-to-earnings ratio of 144.66 and a beta of 1.18.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Micron Technology

Institutional investors have recently bought and sold shares of the business. SOA Wealth Advisors LLC. grew its stake in shares of Micron Technology by 37.6% during the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer’s stock valued at $123,000 after purchasing an additional 325 shares during the last quarter. TCW Group Inc. increased its position in Micron Technology by 0.4% in the third quarter. TCW Group Inc. now owns 494,195 shares of the semiconductor manufacturer’s stock worth $51,253,000 after purchasing an additional 1,863 shares during the period. Soltis Investment Advisors LLC raised its stake in shares of Micron Technology by 6.1% during the third quarter. Soltis Investment Advisors LLC now owns 2,808 shares of the semiconductor manufacturer’s stock worth $291,000 after buying an additional 161 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in Micron Technology by 30.2% in the third quarter. Sunbelt Securities Inc. now owns 1,260 shares of the semiconductor manufacturer’s stock valued at $131,000 after acquiring an additional 292 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Micron Technology by 82.0% in the 3rd quarter. Toronto Dominion Bank now owns 1,108,010 shares of the semiconductor manufacturer’s stock valued at $114,912,000 after purchasing an additional 499,281 shares during the period. 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.