Insider Selling: Micron Technology, Inc. (NASDAQ:MU) EVP Sells 15,000 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Micron Technology Stock Down 3.0 %

NASDAQ MU opened at $88.44 on Friday. The stock has a 50 day moving average price of $96.00 and a 200-day moving average price of $98.37. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a market capitalization of $98.84 billion, a P/E ratio of 25.49 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

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 given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in Micron Technology during the fourth quarter valued at $1,470,875,000. Capital World Investors raised its holdings in shares of Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after buying an additional 15,993,036 shares during the period. FMR LLC lifted its stake in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares during the last quarter. Capital Research Global Investors boosted its holdings in Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock valued at $1,370,280,000 after acquiring an additional 9,489,579 shares during the period. Finally, Capital International Investors grew its position in Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock valued at $1,383,442,000 after acquiring an additional 4,375,232 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Rosenblatt Securities reduced their price target on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Wedbush reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a research report on Monday, March 17th. Finally, TD Cowen reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

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.