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 stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Micron Technology Stock Performance

NASDAQ MU opened at $132.59 on Wednesday. The company has a market capitalization of $147.02 billion, a P/E ratio of -93.20 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a 52-week low of $60.50 and a 52-week high of $157.54. The company has a fifty day moving average of $128.51 and a 200-day moving average of $106.81.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 81.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.57) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.39 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.35%. Micron Technology’s payout ratio is -32.39%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wolfe Research increased their price target on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Wells Fargo & Company lifted their target price on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Bank of America upped their price target on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Susquehanna lifted their price objective on shares of Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a research note on Monday, June 17th. Finally, Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $158.52.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently made changes to their positions in the business. TCW Group Inc. lifted its stake in Micron Technology by 5.7% in the fourth quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after purchasing an additional 28,649 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of Micron Technology by 6.3% in the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after buying an additional 5,958 shares during the period. Savoie Capital LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at about $4,229,000. TrinityPoint Wealth LLC boosted its holdings in Micron Technology by 33.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after acquiring an additional 8,736 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its position in Micron Technology by 176.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock worth $1,349,000 after acquiring an additional 10,096 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.