Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shares rose 1.1% during trading on Friday. The company’s shares traded as high as $110.16 and closed at $108.61. Approximately 5,803,173 shares were traded during trading, down 72% from the average daily trading volume of 20,930,775 shares. The stock had previously closed at $107.45.
Analyst Rating Changes
Several analysts have recently commented on MU stock. KeyCorp increased their price target on Micron Technology from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Needham & Company LLC increased their price target on Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. increased their price target on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Barclays increased their price target on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, Stifel Nicolaus increased their price target on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and 25 have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of a “moderate buy” and a consensus target price of $158.72.
Check out the latest stock report for Micron Technology
Micron Technology shares rose 1.8%
The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company’s 50-day simple moving average is $131.01 and its 200-day simple moving average is $112.04. The company has a market capitalization of $121.32 billion, a P/E ratio of -77.05 and a beta of 1.18.
Micron Technology (NASDAQ:MU – Get free report ) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported quarterly earnings per share (EPS) of $0.62, beating the market consensus estimate of $0.48 by $0.14. Micron Technology had a net margin of -7.20% and a return on equity of -4.01%. The company’s quarterly revenue was $6.81 billion, beating the market consensus estimate of $6.67 billion. During the same period last year, the company posted earnings per share of ($1.57). Micron Technology’s quarterly revenue grew 81.5% year over year. Equity research analysts expect Micron Technology, Inc. to post EPS of 0.58 for the current year.
Micron Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This equates to an annualized dividend of $0.46 and a yield of 0.42%. Micron Technology’s dividend payout ratio is currently -32.39%.
Insiders bet
In other news, Executive Vice President, Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the transaction, the Executive Vice President now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the SEC’s website. In other news, Executive Vice President, Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the close of the transaction, the Executive Vice President now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available on the SEC’s website. Additionally, SVP, Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction value of $1,733,250.00. Following the close of the transaction, the Senior Vice President now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold a total of 236,730 shares of the company’s stock, valued at $29,435,039. 0.32% of the stock is owned by company insiders.
Institutional investor inflows and outflows
Several institutional investors and hedge funds recently modified their holdings of the company’s stock. The Vanguard Group increased its holdings in Micron Technology by 1.8% in the first quarter. Vanguard Group now owns 96,666,590 shares of the semiconductor manufacturer’s stock, valued at $11,396,024,000, after acquiring an additional 1,681,815 shares in the last quarter. Capital World Investors increased its holdings in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock, valued at $2,681,807,000, after acquiring an additional 1,400,154 shares in the last quarter. Sanders Capital increased its holdings in Micron Technology by 2.3% in the fourth quarter.Sanders Capital LLC acquired an additional 503,923 shares in the last quarter and now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000. Capital International Investors increased its stake in Micron Technology by 15.1% in the first quarter. Capital International Investors acquired an additional 2,397,885 shares in the last quarter and now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000. Finally, Price T. Rowe Associates Inc. MD increased its stake in Micron Technology by 22.2% in the first quarter. Price T. Rowe Associates Inc. now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after acquiring an additional 3,315,988 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
About Micron Technology
(Get your free report)
Micron Technology, Inc. designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking, Mobile, Embedded and Storage. The company offers memory and storage technologies under the Micron and Crucial brands, as well as private labels, including dynamic random access memory semiconductor devices that provide low latency and fast data retrieval, nonvolatile rewriteable semiconductor storage devices and nonvolatile rewriteable semiconductor memory devices that provide fast read speeds.
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