Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen Sells 4,890 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $131.52 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The company has a market cap of $145.83 billion, a PE ratio of -92.62 and a beta of 1.18. The stock has a fifty day moving average price of $128.07 and a 200 day moving average price of $106.46. Micron Technology, Inc. has a 1-year low of $60.50 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the business earned ($1.57) EPS. The business’s revenue was up 81.5% on a year-over-year basis. Sell-side analysts forecast that Micron Technology, Inc. will post 0.39 EPS for the current year.

Micron Technology Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on MU. Bank of America lifted their price target on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Needham & Company LLC upped their price target on Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of Micron Technology in a research note on Thursday, June 27th. Piper Sandler boosted their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.52.

Institutional Trading of Micron Technology

Several hedge funds have recently modified their holdings of MU. Tidemark LLC purchased a new stake in Micron Technology during the fourth quarter worth about $25,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the 1st quarter worth approximately $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.