April S. Arnzen Sells 4,890 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Micron Technology Trading Down 1.3 %

MU stock opened at $88.63 on Friday. The business has a fifty day moving average price of $101.17 and a 200 day moving average price of $107.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The stock has a market capitalization of $98.75 billion, a price-to-earnings ratio of 130.34 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period last year, the company posted ($0.95) earnings per share. Analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MU. Whittier Trust Co. lifted its stake in shares of Micron Technology by 317.2% during the second quarter. Whittier Trust Co. now owns 1,210 shares of the semiconductor manufacturer’s stock valued at $159,000 after acquiring an additional 920 shares during the period. Arkadios Wealth Advisors boosted its stake in shares of Micron Technology by 32.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 5,746 shares of the semiconductor manufacturer’s stock valued at $756,000 after purchasing an additional 1,408 shares during the last quarter. Ameritas Advisory Services LLC grew its position in shares of Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Micron Technology by 383.0% during the second quarter. Panagora Asset Management Inc. now owns 66,741 shares of the semiconductor manufacturer’s stock worth $8,778,000 after buying an additional 52,924 shares during the last quarter. Finally, F M Investments LLC acquired a new position in Micron Technology in the second quarter valued at approximately $567,000. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MU. The Goldman Sachs Group dropped their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Raymond James boosted their price target on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Cantor Fitzgerald reduced their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Morgan Stanley lowered their price objective on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. Finally, Robert W. Baird reduced their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

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.