Micron Technology, Inc. (NASDAQ:MU) EVP Sells 4,890 Shares

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Micron Technology Stock Performance

NASDAQ:MU opened at $99.85 on Thursday. The firm’s 50 day moving average is $96.91 and its two-hundred day moving average is $114.99. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two 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 company has a market cap of $110.72 billion, a P/E ratio of -70.32, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the firm posted ($1.21) EPS. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is presently -32.39%.

Analyst Ratings Changes

Several analysts have recently commented on MU shares. Robert W. Baird lowered their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Citigroup lowered their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. KeyCorp lowered their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company lowered their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.23.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently made changes to their positions in the business. Focus Financial Network Inc. ADV acquired a new stake in Micron Technology during the 4th quarter valued at $362,000. J. W. Coons Advisors LLC acquired a new stake in Micron Technology during the 4th quarter valued at $213,000. Rathbones Group PLC grew its holdings in Micron Technology by 7.1% during the 4th quarter. Rathbones Group PLC now owns 5,254 shares of the semiconductor manufacturer’s stock valued at $448,000 after purchasing an additional 350 shares in the last quarter. Carolinas Wealth Consulting LLC grew its holdings in Micron Technology by 60.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 3,333 shares of the semiconductor manufacturer’s stock valued at $285,000 after purchasing an additional 1,250 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in Micron Technology by 0.6% during the 4th quarter. California State Teachers Retirement System now owns 1,755,184 shares of the semiconductor manufacturer’s stock valued at $149,787,000 after purchasing an additional 10,538 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

About Micron Technology

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.