Micron Technology, Inc. (NASDAQ:MU) EVP Sells $1,442,700.00 in Stock

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

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $88.44 on Friday. The firm’s 50-day moving average price is $96.00 and its 200-day moving average price is $98.45. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54. The company has a market cap of $98.84 billion, a PE ratio of 25.49 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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

Micron Technology Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cerity Partners LLC lifted its stake in shares of Micron Technology by 58.6% in the 3rd quarter. Cerity Partners LLC now owns 94,515 shares of the semiconductor manufacturer’s stock worth $9,802,000 after purchasing an additional 34,938 shares during the period. Algert Global LLC raised its position in Micron Technology by 349.4% in the third quarter. Algert Global LLC now owns 11,092 shares of the semiconductor manufacturer’s stock worth $1,150,000 after acquiring an additional 8,624 shares during the period. Larson Financial Group LLC boosted its stake in shares of Micron Technology by 885.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,360 shares of the semiconductor manufacturer’s stock worth $141,000 after acquiring an additional 1,222 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Micron Technology by 6.5% during the 3rd quarter. Fisher Asset Management LLC now owns 50,470 shares of the semiconductor manufacturer’s stock valued at $5,234,000 after acquiring an additional 3,069 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Micron Technology by 2.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,726,755 shares of the semiconductor manufacturer’s stock worth $179,113,000 after purchasing an additional 47,653 shares in the last quarter. 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 a number of research reports. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Mizuho lowered their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $129.76.

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.