Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The shares were 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 directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Micron Technology Price Performance
Shares of Micron Technology stock opened at $91.16 on Friday. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company's 50-day moving average price is $96.35 and its two-hundred day moving average price is $98.36. The stock has a market cap of $101.88 billion, a PE ratio of 26.27 and a beta of 1.23.
Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 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 38.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Monday, March 31st. Micron Technology's payout ratio is 11.03%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on MU. UBS Group lifted their target price on Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, March 17th. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday. Mizuho cut their target price on Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. Robert W. Baird boosted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Finally, KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $129.96.
View Our Latest Research Report on Micron Technology
Institutional Investors Weigh In On Micron Technology
Several hedge funds have recently modified their holdings of MU. Cerity Partners LLC boosted its stake in Micron Technology by 58.6% in the 3rd quarter. Cerity Partners LLC now owns 94,515 shares of the semiconductor manufacturer's stock worth $9,802,000 after purchasing an additional 34,938 shares during the period. Algert Global LLC lifted its holdings in shares of Micron Technology by 349.4% in the third quarter. Algert Global LLC now owns 11,092 shares of the semiconductor manufacturer's stock valued at $1,150,000 after purchasing an additional 8,624 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Micron Technology by 885.5% in the third quarter. Larson Financial Group LLC now owns 1,360 shares of the semiconductor manufacturer's stock worth $141,000 after buying an additional 1,222 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Micron Technology by 6.5% during the third quarter. Fisher Asset Management LLC now owns 50,470 shares of the semiconductor manufacturer's stock valued at $5,234,000 after buying an additional 3,069 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Micron Technology by 2.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,726,755 shares of the semiconductor manufacturer's stock valued at $179,113,000 after buying an additional 47,653 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.
Micron Technology Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
