Micron Technology, Inc. (NASDAQ:MU) EVP Sells $664,355.40 in Stock

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Micron Technology Trading Up 3.2 %

MU opened at $136.82 on Thursday. The firm’s 50 day moving average is $128.92 and its 200-day moving average is $107.17. Micron Technology, Inc. has a 52-week low of $60.50 and a 52-week high of $157.54. 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 firm has a market capitalization of $151.71 billion, a P/E ratio of -96.35 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.57) EPS. Analysts expect that Micron Technology, Inc. will post 0.53 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

Institutional Investors Weigh In On Micron Technology

Hedge funds have recently bought and sold shares of the business. Gotham Asset Management LLC lifted its position in shares of Micron Technology by 1.1% during the third quarter. Gotham Asset Management LLC now owns 26,873 shares of the semiconductor manufacturer’s stock worth $1,828,000 after purchasing an additional 281 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Micron Technology by 6.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,543,914 shares of the semiconductor manufacturer’s stock worth $173,067,000 after buying an additional 156,118 shares during the last quarter. Legacy Advisors LLC grew its position in shares of Micron Technology by 17.6% in the 3rd quarter. Legacy Advisors LLC now owns 3,928 shares of the semiconductor manufacturer’s stock worth $267,000 after acquiring an additional 589 shares in the last quarter. Rokos Capital Management LLP increased its holdings in shares of Micron Technology by 25.2% in the 3rd quarter. Rokos Capital Management LLP now owns 1,339,083 shares of the semiconductor manufacturer’s stock valued at $91,419,000 after acquiring an additional 269,630 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its position in shares of Micron Technology by 4.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 805,360 shares of the semiconductor manufacturer’s stock valued at $54,793,000 after acquiring an additional 31,813 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Wolfe Research raised their price target on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. UBS Group dropped their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus upped 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 research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $158.52.

Micron Technology Company Profile

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.