Micron Technology (NASDAQ:MU) Stock Price Down 2.5% After Insider Selling

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded down 2.5% during trading on Thursday following insider selling activity. The company traded as low as $90.10 and last traded at $91.99. 5,379,041 shares changed hands during trading, a decline of 75% from the average session volume of 21,909,402 shares. The stock had previously closed at $94.34.

Specifically, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

MU has been the topic of several research reports. UBS Group reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. TD Cowen decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Cantor Fitzgerald reduced their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Stock Performance

The company has a market capitalization of $99.46 billion, a PE ratio of 25.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock’s fifty day simple moving average is $95.90 and its 200-day simple moving average is $98.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter last year, the firm earned ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s dividend payout ratio is presently 13.26%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MU. Sunbeam Capital Management LLC bought a new stake in Micron Technology during the fourth quarter valued at $26,000. Beacon Capital Management LLC lifted its holdings in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC boosted its stake in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $33,000. Finally, Stone House Investment Management LLC lifted its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the last quarter. 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.