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 Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Micron Technology Price Performance

Shares of MU traded down $0.97 during mid-day trading on Thursday, hitting $91.16. The company’s stock had a trading volume of 15,634,046 shares, compared to its average volume of 22,290,610. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The stock has a market capitalization of $101.57 billion, a price-to-earnings ratio of 26.27 and a beta of 1.23. The firm has a 50-day moving average price of $96.58 and a 200 day moving average price of $98.41. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.50%. Micron Technology’s payout ratio is presently 11.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MU. The Goldman Sachs Group lowered their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Barclays increased their target price on Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Wells Fargo & Company reduced their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Rosenblatt Securities dropped their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.96.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MU. Trivant Custom Portfolio Group LLC increased its holdings in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 100 shares during the period. Xcel Wealth Management LLC increased its position in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 108 shares in the last quarter. Twin Capital Management Inc. lifted its holdings in shares of Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after buying an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC grew its stake in shares of Micron Technology by 1.5% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after buying an additional 114 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.