Insider Selling: Micron Technology, Inc. (NASDAQ:MU) EVP Sells 20,000 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU – Get Rating) EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $53.40, for a total transaction of $1,068,000.00. Following the completion of the transaction, the executive vice president now directly owns 228,340 shares in the company, valued at approximately $12,193,356. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Micron Technology Price Performance

NASDAQ MU opened at $54.27 on Wednesday. The company has a quick ratio of 2.23, a current ratio of 3.51 and a debt-to-equity ratio of 0.20. Micron Technology, Inc. has a 12-month low of $48.43 and a 12-month high of $86.24. The company has a market capitalization of $59.22 billion, a PE ratio of 9.85 and a beta of 1.39. The firm’s 50 day moving average is $58.57 and its 200-day moving average is $55.79.

Micron Technology (NASDAQ:MU – Get Rating) last issued its earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.14 billion. Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. Micron Technology’s quarterly revenue was down 46.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post -2.71 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 19th. Investors of record on Tuesday, January 3rd were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.85%. Micron Technology’s payout ratio is 8.35%.

Hedge Funds Weigh In On Micron Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ASB Consultores LLC increased its stake in shares of Micron Technology by 2.0% in the fourth quarter. ASB Consultores LLC now owns 8,620 shares of the semiconductor manufacturer’s stock valued at $431,000 after buying an additional 167 shares during the period. Studio Investment Management LLC increased its stake in shares of Micron Technology by 0.8% in the fourth quarter. Studio Investment Management LLC now owns 21,367 shares of the semiconductor manufacturer’s stock valued at $1,068,000 after buying an additional 167 shares during the period. Stonebridge Capital Advisors LLC increased its stake in shares of Micron Technology by 6.6% in the first quarter. Stonebridge Capital Advisors LLC now owns 2,695 shares of the semiconductor manufacturer’s stock valued at $210,000 after buying an additional 168 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of Micron Technology by 4.0% in the third quarter. Orion Portfolio Solutions LLC now owns 4,703 shares of the semiconductor manufacturer’s stock valued at $236,000 after buying an additional 181 shares during the period. Finally, SRS Capital Advisors Inc. increased its stake in shares of Micron Technology by 3.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 6,204 shares of the semiconductor manufacturer’s stock valued at $310,000 after buying an additional 189 shares during the period. 78.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on MU shares. Mizuho raised shares of Micron Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $48.00 to $72.00 in a research note on Friday, February 10th. Raymond James started coverage on shares of Micron Technology in a research note on Wednesday, March 1st. They issued an “outperform” rating and a $70.00 target price on the stock. Cowen reduced their target price on shares of Micron Technology from $70.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, December 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Micron Technology from a “buy” rating to a “hold” rating and reduced their target price for the company from $60.00 to $55.00 in a research note on Monday, December 12th. Finally, Argus lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.25.

Micron Technology Company Profile

(Get Rating)

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.