Micron Technology (NASDAQ:MU) Stock Price Up 1.4% – Should You Buy?

by · The Markets Daily

Shares of Micron Technology, Inc. (NASDAQ:MU – Get Free Report) were up 1.4% on Tuesday . The company traded as high as $107.75 and last traded at $107.22. Approximately 5,808,713 shares changed hands during trading, a decline of 76% from the average daily volume of 24,632,424 shares. The stock had previously closed at $105.75.

Analysts Set New Price Targets

Several equities research analysts have commented on MU shares. Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group dropped their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Robert W. Baird reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. TD Cowen dropped their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Check Out Our Latest Stock Analysis on MU

Micron Technology Trading Up 3.9 %

The stock’s 50-day simple moving average is $97.82 and its two-hundred day simple moving average is $101.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $122.45 billion, a P/E ratio of 31.67 and a beta of 1.18.

Micron Technology (NASDAQ:MU – Get Free Report) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.95) EPS. Equities research analysts expect that Micron Technology, Inc. will post 6.25 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stonebrook Private Inc. grew its stake in shares of Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares during the last quarter. John G Ullman & Associates Inc. grew its position in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after acquiring an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC increased its stake in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after purchasing an additional 100 shares during the period. Trust Co. of Vermont lifted its position in shares of Micron Technology by 14.3% during the third quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock worth $85,000 after purchasing an additional 103 shares during the last quarter. Finally, PDS Planning Inc boosted its stake in shares of Micron Technology by 2.4% during the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after purchasing an additional 104 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Company Profile

(Get Free Report)

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.

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