Micron Technology, Inc. (NASDAQ:MU) EVP Sells $583,377.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Micron Technology Price Performance

MU stock traded down $1.24 during mid-day trading on Friday, hitting $117.89. The company had a trading volume of 21,047,778 shares, compared to its average volume of 28,482,330. The company has a market capitalization of $130.55 billion, a price-to-earnings ratio of -34.17 and a beta of 1.24. Micron Technology, Inc. has a 12-month low of $56.01 and a 12-month high of $122.46. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $92.02 and a 200 day moving average price of $80.91.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion for 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 company earned ($2.03) EPS. On average, research analysts anticipate that Micron Technology, Inc. will post 0.01 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, March 28th. Micron Technology’s payout ratio is currently -13.33%.

Institutional Trading of Micron Technology

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp raised its position in shares of Micron Technology by 0.7% during the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after buying an additional 80,345 shares in the last quarter. L2 Asset Management LLC raised its position in Micron Technology by 492.3% in the 3rd quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock worth $1,799,000 after purchasing an additional 21,979 shares during the period. Invesco Ltd. raised its position in Micron Technology by 11.8% in the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after purchasing an additional 927,302 shares during the period. Merlin Capital Inc purchased a new stake in Micron Technology in the 3rd quarter worth about $407,000. Finally, Amitell Capital Pte Ltd raised its position in Micron Technology by 97.9% in the 3rd quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock worth $6,477,000 after purchasing an additional 47,105 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MU. Wedbush boosted their target price on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Mizuho boosted their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Cantor Fitzgerald boosted their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Needham & Company LLC boosted their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, KeyCorp boosted their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.69.

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.