April Arnzen Sells 15,000 Shares of Micron Technology (NASDAQ:MU) Stock

Key Points

• April Arnzen, EVP of Micron Technology, sold 15,000 shares at an average price of $164.04, representing a 10.23% decrease in her stock position.
• Micron Technology has a current stock price of $183.75, with a market capitalization of $205.64 billion and a P/E ratio of 24.21.
• The company declared a quarterly dividend of $0.115 per share, reflecting an annualized dividend yield of 0.3%, with an upcoming pay date on October 21st.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP April Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the transaction, the executive vice president owned 131,580 shares of the company's stock, valued at $21,584,383.20. This trade represents a 10.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Micron Technology Stock Performance

Shares of NASDAQ MU traded up $1.60 during trading on Thursday, reaching $183.75. 25,055,733 shares of the stock traded hands, compared to its average volume of 29,495,002. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $186.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The company has a 50-day moving average of $131.92 and a 200-day moving average of $109.55. The stock has a market capitalization of $205.64 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 0.40 and a beta of 1.56.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology's dividend payout ratio (DPR) is presently 6.06%.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds have recently made changes to their positions in the business. Mission Wealth Management LP lifted its position in shares of Micron Technology by 195.2% in the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock worth $1,360,000 after buying an additional 10,348 shares in the last quarter. TB Alternative Assets Ltd. lifted its position in shares of Micron Technology by 331.3% in the first quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer's stock worth $6,933,000 after buying an additional 61,288 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in shares of Micron Technology in the first quarter worth about $228,000. Teamwork Financial Advisors LLC lifted its position in shares of Micron Technology by 27.3% in the first quarter. Teamwork Financial Advisors LLC now owns 15,089 shares of the semiconductor manufacturer's stock worth $1,311,000 after buying an additional 3,240 shares in the last quarter. Finally, Clarius Group LLC raised its position in Micron Technology by 57.9% during the first quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer's stock valued at $1,237,000 after purchasing an additional 5,220 shares during the period. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MU shares. KGI Securities upgraded Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded Micron Technology from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 26th. Summit Insights raised shares of Micron Technology to a "strong-buy" rating in a research report on Tuesday, September 23rd. Wolfe Research upped their target price on shares of Micron Technology from $160.00 to $180.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Finally, Mizuho lifted their price objective on Micron Technology from $182.00 to $195.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $184.77.

Micron Technology Company Profile

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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