Micron Technology (NASDAQ:MU) Stock Price Down 2.3% on Insider Selling

Micron Technology, Inc. (NASDAQ:MUGet Free Report) shares dropped 2.3% on Friday after an insider sold shares in the company. The stock traded as low as $107.05 and last traded at $107.35. Approximately 12,958,474 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 17,198,449 shares. The stock had previously closed at $109.85.

Specifically, EVP Scott J. Deboer sold 28,228 shares of Micron Technology stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total value of $2,462,610.72. Following the transaction, the executive vice president now directly owns 203,342 shares in the company, valued at approximately $17,739,556.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $82.13, for a total value of $574,910.00. Following the completion of the transaction, the chief executive officer now owns 651,759 shares of the company’s stock, valued at approximately $53,528,966.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott J. Deboer sold 28,228 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total value of $2,462,610.72. Following the completion of the transaction, the executive vice president now directly owns 203,342 shares of the company’s stock, valued at approximately $17,739,556.08. The disclosure for this sale can be found here. Insiders sold a total of 254,228 shares of company stock valued at $24,036,891 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several analyst reports. UBS Group increased their price objective on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen raised their price target on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised their price target on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Evercore ISI raised their price target on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.69.

Get Our Latest Stock Report on MU

Micron Technology Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.14 and a current ratio of 3.53. The stock has a market capitalization of $121.66 billion, a price-to-earnings ratio of -31.94 and a beta of 1.24. The company has a 50-day moving average of $88.70 and a 200-day moving average of $79.29.

Micron Technology (NASDAQ:MUGet Free Report) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.97%. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period in the previous year, the company earned ($2.03) EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post -1.06 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.115 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. Micron Technology’s dividend payout ratio is presently -13.33%.

Institutional Trading of Micron Technology

Several institutional investors have recently made changes to their positions in the stock. Tidemark LLC acquired a new stake in Micron Technology in the 4th quarter valued at $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the 4th quarter valued at $26,000. Frank Rimerman Advisors LLC acquired a new stake in Micron Technology in the 4th quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter valued at $28,000. Finally, OFI Invest Asset Management acquired a new stake in Micron Technology in the 3rd quarter valued at $27,000. 79.25% 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.

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