Insider Selling: Micron Technology, Inc. (NASDAQ:MU) SVP Sells 15,000 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now directly owns 153,387 shares of the company's stock, valued at $17,723,867.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Micron Technology Stock Up 2.4 %

Shares of NASDAQ MU traded up $2.63 during trading hours on Thursday, hitting $112.33. 12,890,870 shares of the stock were exchanged, compared to its average volume of 20,316,947. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The company has a market cap of $124.39 billion, a PE ratio of -32.56 and a beta of 1.27. The firm has a fifty day moving average price of $108.38 and a 200-day moving average price of $89.36. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology's revenue was up 57.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.03) EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology's dividend payout ratio (DPR) is presently -13.33%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MU shares. Mizuho lifted their price target on shares of Micron Technology from $105.00 to $124.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Wedbush lifted their price target on shares of Micron Technology from $103.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, March 21st. Citigroup reaffirmed a "buy" rating and set a $150.00 price target on shares of Micron Technology in a research note on Thursday, April 4th. TD Cowen lifted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, March 21st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $122.20.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Exchange Traded Concepts LLC grew its position in Micron Technology by 411.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,657 shares of the semiconductor manufacturer's stock worth $317,000 after purchasing an additional 3,746 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in Micron Technology by 64.6% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 5,706 shares of the semiconductor manufacturer's stock worth $388,000 after purchasing an additional 2,240 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Micron Technology by 10.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 14,636 shares of the semiconductor manufacturer's stock worth $996,000 after purchasing an additional 1,355 shares during the last quarter. Independent Advisor Alliance grew its position in Micron Technology by 20.9% during the 3rd quarter. Independent Advisor Alliance now owns 54,730 shares of the semiconductor manufacturer's stock worth $3,723,000 after purchasing an additional 9,443 shares during the last quarter. Finally, NorthRock Partners LLC purchased a new stake in Micron Technology during the 3rd quarter worth approximately $214,000. Institutional investors own 80.84% of the company's stock.

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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