Insider Selling: Micron Technology, Inc. (NASDAQ:MU) Director Sells 2,404 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This represents a 8.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Mary Pat Mccarthy also recently made the following trade(s):

• On Monday, March 3rd, Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock. The stock was sold at an average price of $92.93, for a total value of $223,403.72.

Micron Technology Trading Up 0.2 %

Shares of MU stock traded up $0.18 during trading hours on Tuesday, reaching $80.60. The company had a trading volume of 13,028,297 shares, compared to its average volume of 23,242,850. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market cap of $90.08 billion, a price-to-earnings ratio of 23.23 and a beta of 1.18. The company has a 50 day moving average of $83.28 and a 200 day moving average of $93.55.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company's quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.57%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. UBS Group decreased their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Citigroup lowered their price target on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $127.04.

Institutional Trading of Micron Technology

Several hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors LLC raised its position in shares of Micron Technology by 103.7% during the third quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer's stock worth $344,000 after purchasing an additional 1,688 shares during the period. Principal Financial Group Inc. lifted its stake in Micron Technology by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,255,931 shares of the semiconductor manufacturer's stock valued at $130,253,000 after buying an additional 52,912 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Micron Technology by 6.2% in the fourth quarter. Nordea Investment Management AB now owns 286,363 shares of the semiconductor manufacturer's stock valued at $24,327,000 after buying an additional 16,622 shares during the period. CWA Asset Management Group LLC increased its position in shares of Micron Technology by 3.7% during the fourth quarter. CWA Asset Management Group LLC now owns 48,012 shares of the semiconductor manufacturer's stock worth $4,041,000 after acquiring an additional 1,717 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Micron Technology by 81.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 577,737 shares of the semiconductor manufacturer's stock worth $48,622,000 after acquiring an additional 259,627 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

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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