Micron Technology, Inc. (NASDAQ:MU) Director Steven J. Gomo Sells 7,000 Shares

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Micron Technology Stock Performance

Shares of Micron Technology stock traded up $0.85 during trading hours on Wednesday, reaching $121.74. The company had a trading volume of 29,259,282 shares, compared to its average volume of 23,340,095. The firm has a market cap of $136.24 billion, a PE ratio of 21.94 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 has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The business has a fifty day simple moving average of $100.85 and a 200 day simple moving average of $94.48.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to analysts' expectations 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 firm posted $0.62 EPS. On average, analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Institutional Trading of Micron Technology

Several institutional investors and hedge funds have recently bought and sold shares of MU. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology in the 1st quarter worth $33,000. Curio Wealth LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at $34,000. AllSquare Wealth Management LLC raised its position in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Micron Technology during the 1st quarter worth $36,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays increased their price target on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Stifel Nicolaus upped their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Piper Sandler lifted their target price on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Raymond James Financial increased their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Finally, Royal Bank Of Canada set a $125.00 price objective on shares of Micron Technology in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $146.21.

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.