Micron Technology (NASDAQ:MU) Trading Down 6.7% – Should You Sell?

by · The Cerbat Gem

Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shares were down 6.7% during mid-day trading on Friday . The stock traded as low as $239.32 and last traded at $241.14. Approximately 25,316,107 shares were traded during trading, an increase of 8% from the average daily volume of 23,529,789 shares. The stock had previously closed at $258.46.

Analysts Set New Price Targets

A number of brokerages have recently commented on MU. BNP Paribas Exane upgraded shares of Micron Technology from an “underperform” rating to an “outperform” rating and set a $270.00 price target for the company in a research note on Monday, October 13th. Erste Group Bank initiated coverage on shares of Micron Technology in a report on Thursday, August 14th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Micron Technology from $200.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group increased their price objective on shares of Micron Technology from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Finally, Wolfe Research boosted their target price on shares of Micron Technology from $200.00 to $300.00 and gave the company an “outperform” rating in a research report on Tuesday, December 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $236.59.

Read Our Latest Research Report on MU

Micron Technology Trading Down 6.7%

The stock has a market capitalization of $271.07 billion, a PE ratio of 31.77, a PEG ratio of 0.44 and a beta of 1.54. The stock’s 50 day moving average price is $222.03 and its 200-day moving average price is $158.50. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU – Get Free Report) last released its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.17. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The company had revenue of $11.32 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the previous year, the company earned $1.18 EPS. Micron Technology’s revenue for the quarter was up 46.1% on a year-over-year basis. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Friday, October 3rd were given a dividend of $0.115 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is currently 6.06%.

Insiders Place Their Bets

In other news, EVP Scott J. Deboer sold 82,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $222.81, for a total value of $18,270,420.00. Following the transaction, the executive vice president owned 154,145 shares of the company’s stock, valued at approximately $34,345,047.45. The trade was a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 22,500 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $220.72, for a total transaction of $4,966,200.00. Following the transaction, the chief executive officer owned 446,578 shares of the company’s stock, valued at approximately $98,568,696.16. This represents a 4.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 392,352 shares of company stock valued at $82,994,387 in the last 90 days. 0.24% of the stock is currently owned by company insiders.

Institutional Trading of Micron Technology

Several hedge funds have recently bought and sold shares of MU. REAP Financial Group LLC purchased a new position in shares of Micron Technology during the third quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Micron Technology in the third quarter worth about $27,000. Cullen Frost Bankers Inc. boosted its stake in Micron Technology by 79.3% during the third quarter. Cullen Frost Bankers Inc. now owns 199 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 88 shares during the last quarter. First Command Advisory Services Inc. grew its holdings in Micron Technology by 225.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 153 shares in the last quarter. Finally, Osterweis Capital Management Inc. grew its holdings in Micron Technology by 205.5% during the 3rd quarter. Osterweis Capital Management Inc. now owns 223 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

About Micron Technology

(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.

See Also