Micron Technology, Inc. (NASDAQ:MU) EVP Sells $11,625,142.62 in Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Micron Technology Price Performance

MU traded down $2.36 during trading on Tuesday, hitting $120.89. The company's stock had a trading volume of 24,793,999 shares, compared to its average volume of 23,306,039. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $135.29 billion, a price-to-earnings ratio of 21.78 and a beta of 1.34. The business's fifty day simple moving average is $99.84 and its 200 day simple moving average is $94.30. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $137.13.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the firm posted $0.62 earnings per share. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Institutional Trading of Micron Technology

Several large investors have recently made changes to their positions in MU. Sunbeam Capital Management LLC purchased a new position in Micron Technology during the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the 1st quarter worth $33,000. Roxbury Financial LLC boosted its position in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares during the last quarter. Curio Wealth LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $34,000. Finally, AllSquare Wealth Management LLC increased its position in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MU. UBS Group lifted their target price on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. KeyCorp boosted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Cantor Fitzgerald raised their target price on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Wedbush upped their price target on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.21.

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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