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

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Micron Technology Trading Down 3.3 %

Shares of Micron Technology stock opened at $100.31 on Wednesday. The company has a market capitalization of $111.23 billion, a price-to-earnings ratio of -70.64, a PEG ratio of 0.20 and a beta of 1.17. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54. The firm’s 50-day moving average price is $97.12 and its two-hundred day moving average price is $115.10.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.21) earnings per share. On average, analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MU. Focus Financial Network Inc. ADV bought a new position in Micron Technology in the 4th quarter valued at approximately $362,000. J. W. Coons Advisors LLC bought a new position in Micron Technology in the 4th quarter valued at approximately $213,000. Rathbones Group PLC raised its holdings in Micron Technology by 7.1% in the 4th quarter. Rathbones Group PLC now owns 5,254 shares of the semiconductor manufacturer’s stock valued at $448,000 after buying an additional 350 shares during the last quarter. Carolinas Wealth Consulting LLC raised its holdings in Micron Technology by 60.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 3,333 shares of the semiconductor manufacturer’s stock valued at $285,000 after buying an additional 1,250 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in Micron Technology by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 1,755,184 shares of the semiconductor manufacturer’s stock valued at $149,787,000 after buying an additional 10,538 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. KeyCorp dropped their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. UBS Group decreased their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Finally, Rosenblatt Securities upped their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $143.23.

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.