Micron Technology, Inc. (NASDAQ:MU) EVP Manish H. Bhatia Sells 97,107 Shares

Micron Technology, Inc. (NASDAQ:MU) EVP Manish H. Bhatia sold 97,107 shares of the stock in a transaction on Friday, January 14th. The stock was sold at an average price of $96.02, for a total transaction of $9,324,214.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

NASDAQ MU opened at $97.36 on Friday. Micron Technology, Inc. has a 52-week low of $65.67 and a 52-week high of $98.45. The company has a 50-day simple moving average of $86.57 and a 200 day simple moving average of $78.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.36 and a current ratio of 3.10. The company has a market capitalization of $109.02 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.46 and a beta of 1.15.

Micron Technology (NASDAQ:MU) last posted its earnings results on Monday, December 20th. The semiconductor manufacturer reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.05. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.68 billion. Micron Technology had a net margin of 24.86% and a return on equity of 19.01%. The company’s revenue was up 33.2% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post 8.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 18th. Stockholders of record on Monday, January 3rd will be paid a $0.10 dividend. The ex-dividend date is Friday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.41%. Micron Technology’s payout ratio is 6.17%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Old North State Trust LLC increased its stake in shares of Micron Technology by 91.1% in the third quarter. Old North State Trust LLC now owns 472 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 225 shares in the last quarter. Activest Wealth Management increased its stake in shares of Micron Technology by 237.3% in the fourth quarter. Activest Wealth Management now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 280 shares in the last quarter. Pacifica Partners Inc. boosted its position in shares of Micron Technology by 93.0% in the fourth quarter. Pacifica Partners Inc. now owns 415 shares of the semiconductor manufacturer’s stock valued at $39,000 after acquiring an additional 200 shares during the period. Capital Analysts LLC boosted its position in shares of Micron Technology by 38.6% in the third quarter. Capital Analysts LLC now owns 575 shares of the semiconductor manufacturer’s stock valued at $41,000 after acquiring an additional 160 shares during the period. Finally, JFS Wealth Advisors LLC boosted its position in shares of Micron Technology by 2,145.2% in the third quarter. JFS Wealth Advisors LLC now owns 696 shares of the semiconductor manufacturer’s stock valued at $49,000 after acquiring an additional 665 shares during the period. Hedge funds and other institutional investors own 77.38% of the company’s stock.

Several brokerages recently issued reports on MU. Morgan Stanley increased their target price on shares of Micron Technology from $75.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 21st. Cowen increased their target price on shares of Micron Technology from $80.00 to $99.00 and gave the stock an “outperform” rating in a research note on Monday, December 6th. Evercore ISI increased their target price on shares of Micron Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 13th. BMO Capital Markets began coverage on shares of Micron Technology in a research note on Tuesday, December 21st. They set a “buy” rating and a $115.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Micron Technology in a research note on Wednesday, September 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $111.93.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Insider Buying and Selling by Quarter for Micron Technology (NASDAQ:MU)

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