Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer Sells 40,000 Shares

Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer sold 40,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Micron Technology Trading Up 2.1 %

MU opened at $114.70 on Friday. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The business’s 50-day moving average price is $108.38 and its 200-day moving average price is $89.36. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the company posted ($2.03) earnings per share. The business’s revenue was up 57.7% on a year-over-year basis. On average, analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s payout ratio is currently -13.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MU shares. KeyCorp increased their target price on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Mizuho raised their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. TD Cowen raised their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Barclays raised their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Finally, Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Micron Technology in the 4th quarter worth $769,372,000. FMR LLC increased its stake in shares of Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. Morgan Stanley increased its stake in shares of Micron Technology by 19.7% in the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after acquiring an additional 2,852,688 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Micron Technology by 125.0% during the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after purchasing an additional 2,523,267 shares in the last quarter. Hedge funds and other 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.