Micron Technology, Inc. (NASDAQ:MU) EVP Sells $552,570.00 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, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $99.85 on Thursday. The company has a 50-day simple moving average of $96.91 and a 200-day simple moving average of $114.99. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The stock has a market capitalization of $110.72 billion, a price-to-earnings ratio of -70.32, a PEG ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.21) earnings per share. On average, analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.46%. Micron Technology’s dividend payout ratio is currently -32.39%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. DecisionPoint Financial LLC acquired a new position in Micron Technology during the first quarter worth about $25,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology during the second quarter worth about $28,000. Frank Rimerman Advisors LLC acquired a new position in Micron Technology during the fourth quarter worth about $29,000. Valued Wealth Advisors LLC grew its position in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares during the period. Finally, Davis Capital Management acquired a new position in Micron Technology during the third quarter worth about $30,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of several research reports. Wolfe Research boosted their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. TD Cowen boosted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their target price on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Bank of America boosted their target price on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.23.

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.