Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen Sells 15,000 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded down $0.97 during midday trading on Thursday, hitting $91.16. The stock had a trading volume of 15,634,046 shares, compared to its average volume of 22,290,610. The company has a market capitalization of $101.57 billion, a PE ratio of 26.27 and a beta of 1.23. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The stock has a 50 day moving average price of $96.58 and a two-hundred day moving average price of $98.41. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MU. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a report on Wednesday. TD Cowen dropped their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Piper Sandler reduced their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Robert W. Baird upped their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $129.96.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Harmony Asset Management LLC boosted its position in Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after purchasing an additional 5,120 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after acquiring an additional 8,780 shares during the last quarter. Stablepoint Partners LLC purchased a new position in Micron Technology during the 4th quarter valued at about $569,000. State Street Corp raised its position in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of Micron Technology in the third quarter valued at about $2,414,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.