Insider Selling: Micron Technology, Inc. (NASDAQ:MU) EVP Sells 4,890 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Micron Technology Trading Down 1.0 %

Shares of MU traded down $1.24 during trading on Friday, reaching $117.89. 21,047,778 shares of the company traded hands, compared to its average volume of 28,482,330. Micron Technology, Inc. has a twelve month low of $56.01 and a twelve month high of $122.46. The stock has a market cap of $130.55 billion, a PE ratio of -34.17 and a beta of 1.24. The stock has a 50-day simple moving average of $92.02 and a 200-day simple moving average of $80.91. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.03) earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. HighPoint Advisor Group LLC purchased a new position in Micron Technology in the fourth quarter worth approximately $1,350,000. Napatree Capital LLC purchased a new position in Micron Technology in the fourth quarter worth approximately $684,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Micron Technology in the fourth quarter worth approximately $137,941,000. Sivia Capital Partners LLC purchased a new position in Micron Technology in the fourth quarter worth approximately $208,000. Finally, Vanguard Group Inc. lifted its stake in Micron Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock worth $8,106,001,000 after acquiring an additional 755,588 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MU shares. TD Cowen increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Morgan Stanley raised their price target on shares of Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. BMO Capital Markets raised their price target on shares of Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, December 18th. Needham & Company LLC raised their price target on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, Bank of America raised their price target on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $118.69.

About Micron Technology

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.