Micron Technology (NASDAQ:MU) Trading Down 0.4% on Insider Selling

Micron Technology, Inc. (NASDAQ:MU) shares traded down 0.4% on Thursday following insider selling activity. The stock traded as low as $89.61 and last traded at $91.76. 6,241,879 shares traded hands during trading, a decline of 72% from the average session volume of 22,254,826 shares. The stock had previously closed at $92.13.

Specifically, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

MU has been the subject of several recent research reports. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Sanford C. Bernstein dropped their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. TD Cowen reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Piper Sandler lowered their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Citigroup reduced their price target on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Micron Technology Trading Down 3.0 %

The firm has a market cap of $98.84 billion, a P/E ratio of 25.49 and a beta of 1.23. The company’s 50 day moving average is $96.00 and its two-hundred day moving average is $98.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

Institutional Trading of Micron Technology

Institutional investors have recently made changes to their positions in the business. Trivant Custom Portfolio Group LLC boosted its holdings in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Xcel Wealth Management LLC grew its position in Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after acquiring an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 108 shares in the last quarter. Twin Capital Management Inc. lifted its holdings in shares of Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after acquiring an additional 108 shares during the period. Finally, Lebenthal Global Advisors LLC boosted its stake in shares of Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after purchasing an additional 114 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.