Mary Pat Mccarthy Sells 2,404 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were 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 $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 Securities & Exchange Commission, which can be accessed through this hyperlink.

Micron Technology Trading Up 3.4 %

NASDAQ:MU opened at $94.34 on Thursday. The company has a market cap of $105.11 billion, a P/E ratio of 27.19 and a beta of 1.18. The stock’s fifty day moving average price is $95.91 and its two-hundred day moving average price is $98.60. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. 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 released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. As a group, analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. Micron Technology’s dividend payout ratio is presently 13.26%.

Analysts Set New Price Targets

MU has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Barclays decreased their price objective on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Cantor Fitzgerald decreased their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Stifel Nicolaus decreased their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.96.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Swedbank AB boosted its position in Micron Technology by 30.4% during the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after buying an additional 806,639 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Micron Technology by 12.1% during the third quarter. Janney Montgomery Scott LLC now owns 120,731 shares of the semiconductor manufacturer’s stock worth $12,521,000 after purchasing an additional 13,051 shares during the period. Intact Investment Management Inc. boosted its holdings in shares of Micron Technology by 57.2% during the third quarter. Intact Investment Management Inc. now owns 5,660 shares of the semiconductor manufacturer’s stock worth $587,000 after purchasing an additional 2,060 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Micron Technology by 1.2% during the third quarter. Asset Management One Co. Ltd. now owns 425,761 shares of the semiconductor manufacturer’s stock worth $44,156,000 after purchasing an additional 5,018 shares during the period. Finally, PDS Planning Inc boosted its holdings in shares of Micron Technology by 2.4% during the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after purchasing an additional 104 shares during the period. Institutional investors own 80.84% of the company’s stock.

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.