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

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president now directly owns 148,167 shares in the company, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Micron Technology Stock Down 1.0%

Shares of MU stock traded down $1.25 on Thursday, reaching $126.00. 62,077,374 shares of the company were exchanged, compared to its average volume of 23,492,139. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99. The company has a 50-day moving average of $96.45 and a 200-day moving average of $93.89. The company has a market cap of $140.81 billion, a price-to-earnings ratio of 22.70 and a beta of 1.28. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $137.39.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter in the prior year, the company earned $0.62 earnings per share. Analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio is currently 11.03%.

Institutional Trading of Micron Technology

Several hedge funds have recently bought and sold shares of MU. AG2R LA Mondiale Gestion D Actifs bought a new stake in Micron Technology during the 1st quarter valued at $3,922,000. Voya Investment Management LLC increased its position in shares of Micron Technology by 21.6% during the first quarter. Voya Investment Management LLC now owns 2,956,411 shares of the semiconductor manufacturer's stock worth $256,701,000 after acquiring an additional 525,596 shares in the last quarter. Strs Ohio bought a new stake in shares of Micron Technology during the first quarter worth about $57,628,000. SWS Partners raised its holdings in shares of Micron Technology by 2.5% in the 1st quarter. SWS Partners now owns 21,529 shares of the semiconductor manufacturer's stock worth $1,871,000 after acquiring an additional 531 shares during the last quarter. Finally, Westbourne Investments Inc. lifted its position in Micron Technology by 555.9% in the 1st quarter. Westbourne Investments Inc. now owns 17,590 shares of the semiconductor manufacturer's stock valued at $1,528,000 after acquiring an additional 14,908 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research report on Wednesday, March 26th. Royal Bank Of Canada set a $125.00 price objective on Micron Technology in a research report on Wednesday, March 19th. Piper Sandler lifted their price objective on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group upped their target price on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a report on Thursday. Finally, Barclays raised their price target on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.67.

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.

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