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 the business’s stock in a transaction on Thursday, June 27th. The shares were 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 in the company, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Micron Technology Trading Up 3.2 %

MU stock opened at $136.82 on Thursday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $60.50 and a twelve month high of $157.54. The company has a market cap of $151.71 billion, a P/E ratio of -96.35 and a beta of 1.18. The business has a fifty day moving average of $128.92 and a 200-day moving average of $107.17.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.57) EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post 0.53 EPS for the current year.

Micron Technology Dividend Announcement

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

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its stake in shares of Micron Technology by 26.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,371 shares of the semiconductor manufacturer’s stock valued at $443,000 after acquiring an additional 708 shares during the last quarter. GAMMA Investing LLC grew its holdings in Micron Technology by 43.8% during the second quarter. GAMMA Investing LLC now owns 13,910 shares of the semiconductor manufacturer’s stock valued at $1,830,000 after purchasing an additional 4,240 shares during the period. Transcend Capital Advisors LLC increased its stake in Micron Technology by 41.0% in the second quarter. Transcend Capital Advisors LLC now owns 3,969 shares of the semiconductor manufacturer’s stock valued at $522,000 after purchasing an additional 1,155 shares in the last quarter. Appleton Partners Inc. MA raised its holdings in Micron Technology by 1.6% in the second quarter. Appleton Partners Inc. MA now owns 150,314 shares of the semiconductor manufacturer’s stock worth $19,771,000 after purchasing an additional 2,316 shares during the period. Finally, Kathmere Capital Management LLC boosted its position in shares of Micron Technology by 28.2% during the second quarter. Kathmere Capital Management LLC now owns 2,734 shares of the semiconductor manufacturer’s stock worth $360,000 after purchasing an additional 601 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of analyst reports. TD Cowen upped their target price on shares of Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Wells Fargo & Company upped their price objective on Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Raymond James raised their target price on Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Robert W. Baird upped their price target on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Finally, Mizuho lifted their price objective on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target 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.