Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shares fell sharply before the market opened on Thursday after UBS Group AG lowered its price target for the company to $153.00 from $155.00. The stock opened at $135.79 after previously closing at $142.36. UBS Group AG now rates the stock a “buy.” Micron Technology shares last traded at $136.31 on volume of 11,122,377 shares.
Several other analysts have also weighed in with their opinions on the company. StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Mizuho raised their price target on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 31st. Robert W. Baird increased their price target on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. The Goldman Sachs Group raised their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday. Finally, Rosenblatt Securities reaffirmed their “buy” rating on Micron Technology shares and set a price target of $225.00 in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and 25 have given it a buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $158.52.
Read the latest Micron Technology stock report
Insiders bet
In other news, CEO, Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction value of $854,630.00. Following the completion of the sale, the CEO now owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The sale was disclosed in a SEC filing, which is available at this hyperlink. In other news, SVP, Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the Executive Vice President now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The sale was disclosed in a filing with the SEC, available at this link. Additionally, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that took place on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total value of $854,630.00. Following the sale, the CEO now owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 304,840 shares of the company’s stock, valued at $37,961,924. 0.32% of the stock is currently owned by insiders.
Institutional Investors Invest in Micron Technology
Several institutional investors recently modified their holdings of the stock. Atria Investments increased its holdings in Micron Technology by 0.3% during the first quarter. The firm now owns 27,749 shares of the semiconductor company valued at $3.269 million after purchasing an additional 93 shares during the period. Revolve Wealth Partners increased its holdings in Micron Technology by 1.5% during the quarter. Revolve Wealth Partners now owns 6,582 shares of the semiconductor company valued at $776,000 after purchasing an additional 98 shares during the fourth quarter. Retirement Group LLC increased its holdings in Micron Technology by 37.3% during the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor company valued at $43,000 after purchasing an additional 100 shares during the period. AIA Group Ltd increased its stake in Micron Technology by 2.1% during the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock, valued at $568,000, after purchasing an additional 101 shares during the last quarter. Finally, Manchester Capital Management LLC increased its stake in Micron Technology by 5.2% during the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock, valued at $250,000, after purchasing an additional 104 shares during the last quarter. 80.84% ​​of the stock is now owned by institutional investors.
Micron Technology shares fell 0.5%
The company’s 50-day simple moving average is $128.07 and its 200-day simple moving average is $106.08. The company’s quick ratio is 2.40, current ratio is 3.74 and debt-to-equity ratio is 0.30. The company’s market capitalization is $145.65 billion, its P/E ratio is -92.63 and its beta is 1.21.
Micron Technology (NASDAQ:MU – get free report ) released its latest earnings report on Wednesday, June 26th. The semiconductor manufacturer reported quarterly earnings per share of $0.43, beating the market consensus estimate of $0.38 by $0.05. Micron Technology’s ROE was -4.03%, while its net margin was -7.20%. The company’s quarterly revenue was $6.81 billion, beating analyst expectations of $6.67 billion. During the same period last year, the company’s earnings per share were ($1.57). The company’s quarterly revenue was up 81.5% year-over-year. On average, equities research analysts expect Micron Technology, Inc. to earn $0.35 earnings per share this year.
Micron Technology Dividend Announcement
The company also recently declared a quarterly dividend, which is scheduled to be paid on Tuesday, July 23rd. Shareholders of record as of Monday, July 8th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This works out to an annualized dividend of $0.46, for a dividend yield of 0.35%. Micron Technology’s dividend payout ratio (DPR) is currently at -32.39%.
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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