Micron Technology, Inc. (NASDAQ:MU) Director Sells $291,557.12 in 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 on Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total value of $291,557.12. Following the transaction, the director directly owned 22,550 shares of the company's stock, valued at approximately $2,734,864. This represents a 9.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, May 2nd, Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock. The shares were sold at an average price of $80.00, for a total value of $192,320.00.

Micron Technology Stock Up 0.2%

MU traded up $0.29 during midday trading on Thursday, reaching $122.03. 13,247,931 shares of the company were exchanged, compared to its average volume of 23,299,889. The company has a market cap of $136.56 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $137.13. The company's fifty day moving average price is $101.83 and its 200 day moving average price is $94.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

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. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter in the prior year, the company posted $0.62 earnings per share. As a group, analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology's dividend payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

A number of research firms recently commented on MU. Wedbush lifted their price objective on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Wells Fargo & Company boosted their price target on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Morgan Stanley increased their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. UBS Group lifted their target price on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Cantor Fitzgerald boosted their target price on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $146.21.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after buying an additional 13,985 shares during the last quarter. Norden Group LLC grew its position in Micron Technology by 7.9% during the fourth quarter. Norden Group LLC now owns 4,431 shares of the semiconductor manufacturer's stock valued at $373,000 after buying an additional 324 shares during the period. Modera Wealth Management LLC grew its position in Micron Technology by 13.5% during the fourth quarter. Modera Wealth Management LLC now owns 4,647 shares of the semiconductor manufacturer's stock valued at $391,000 after buying an additional 554 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Micron Technology by 85.2% during the fourth quarter. Jones Financial Companies Lllp now owns 34,794 shares of the semiconductor manufacturer's stock worth $2,928,000 after buying an additional 16,008 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

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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