Micron Technology, Inc. (NASDAQ:MU) EVP Sells $2,502,200.00 in Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the sale, the executive vice president now directly owns 166,353 shares in the company, valued at $20,812,423.83. The trade was a 10.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Micron Technology Price Performance

Shares of NASDAQ MU traded down $1.25 during trading hours on Thursday, reaching $126.00. 62,077,374 shares of the stock traded hands, compared to its average volume of 23,492,139. The company's 50-day simple moving average is $96.45 and its two-hundred day simple moving average is $93.89. The company has a market capitalization of $140.81 billion, a P/E ratio of 22.70 and a beta of 1.28. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $137.39. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. During the same period last year, the firm posted $0.62 earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio is presently 11.03%.

Institutional Trading of Micron Technology

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Micron Technology during the 4th quarter worth approximately $1,470,875,000. Capital World Investors lifted its position in Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. FMR LLC boosted its stake in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares during the period. Capital Research Global Investors grew its holdings in shares of Micron Technology by 139.7% in the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after purchasing an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of Micron Technology by 36.3% in the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after buying an additional 4,375,232 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MU has been the topic of a number of recent research reports. Raymond James Financial increased their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday. Wells Fargo & Company upped their price target on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday. Royal Bank Of Canada set a $125.00 price objective on shares of Micron Technology in a research report on Wednesday, March 19th. Susquehanna boosted their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research note on Thursday. Finally, Bank of America upped their target price on shares of Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $144.67.

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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