Micron Technology (NASDAQ:MU) Director Richard Beyer Sells 5,552 Shares

Key Points

• Richard Beyer, a director at Micron Technology, sold 5,552 shares at an average price of $155.68, totaling approximately $864,335, resulting in a 5.47% decrease in his total ownership.
• Micron Technology's quarterly dividend of $0.115 per share will be paid on October 21st, with an annual yield of 0.3% and a payout ratio of 6.06%.
• Analysts have set an average price target of $184.77 for Micron, with many rating the stock as "Buy" or "Outperform."

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) Director Richard Beyer sold 5,552 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the transaction, the director directly owned 96,031 shares in the company, valued at approximately $14,950,106.08. This represents a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Micron Technology Trading Up 4.2%

NASDAQ:MU traded up $6.63 during midday trading on Monday, hitting $163.90. The stock had a trading volume of 26,461,915 shares, compared to its average volume of 23,198,271. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $170.45. The company has a market capitalization of $183.42 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 0.35 and a beta of 1.47. The stock has a 50-day moving average of $128.30 and a 200 day moving average of $108.20. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be paid a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology's dividend payout ratio is 6.06%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. First Command Advisory Services Inc. increased its stake in shares of Micron Technology by 225.0% during the second quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer's stock worth $27,000 after acquiring an additional 153 shares during the period. Howard Hughes Medical Institute acquired a new position in shares of Micron Technology during the second quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the first quarter worth about $33,000. AlphaQuest LLC increased its stake in shares of Micron Technology by 13,250.0% during the second quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer's stock worth $33,000 after acquiring an additional 265 shares during the period. Finally, WealthCollab LLC increased its stake in shares of Micron Technology by 4,500.0% during the second quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 270 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird upped their target price on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. TD Cowen upped their target price on Micron Technology from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Wolfe Research upped their target price on Micron Technology from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Morgan Stanley increased their price objective on Micron Technology from $135.00 to $160.00 and gave the company an "equal weight" rating in a report on Monday, September 22nd. Finally, UBS Group increased their price objective on Micron Technology from $185.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Micron Technology has an average rating of "Buy" and a consensus price target of $184.77.

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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