Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer Sells 20,000 Shares

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares of the company's stock, valued at $20,498,830. This trade represents a 9.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Micron Technology Price Performance

MU traded up $1.89 on Wednesday, hitting $116.03. 21,558,700 shares of the company were exchanged, compared to its average volume of 23,683,958. The business's fifty day moving average is $86.24 and its 200 day moving average is $92.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a market capitalization of $129.67 billion, a P/E ratio of 33.44 and a beta of 1.28. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54.

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

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently bought and sold shares of MU. Xcel Wealth Management LLC raised its stake in shares of Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after buying an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after purchasing an additional 108 shares in the last quarter. Twin Capital Management Inc. grew its stake in shares of Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after purchasing an additional 108 shares during the period. D.B. Root & Company LLC lifted its position in shares of Micron Technology by 3.7% during the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock worth $262,000 after buying an additional 108 shares during the period. Finally, Cim Investment Management Inc. boosted its stake in Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after buying an additional 114 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on MU. UBS Group boosted their target price on shares of Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Morgan Stanley decreased their price target on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Citigroup raised their target price on Micron Technology from $110.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $129.00.

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.