Insider Selling: Micron Technology, Inc. (NASDAQ:MU) EVP Sells 53,317 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP Manish H. Bhatia sold 53,317 shares of the business's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the sale, the executive vice president now directly owns 319,119 shares of the company's stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Micron Technology Stock Performance

MU traded up $0.11 during midday trading on Wednesday, hitting $119.32. 10,840,362 shares of the company were exchanged, compared to its average volume of 20,094,646. The firm has a market capitalization of $131.73 billion, a price-to-earnings ratio of -34.59 and a beta of 1.27. The company's 50 day simple moving average is $110.11 and its 200 day simple moving average is $90.70. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given 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 yield of 0.39%. Micron Technology's dividend payout ratio is presently -13.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Micron Technology from a "sell" rating to a "hold" rating in a research report on Friday, March 22nd. Bank of America raised their price objective on Micron Technology from $120.00 to $144.00 and gave the stock a "buy" rating in a report on Monday, April 1st. KeyCorp increased their price target on Micron Technology from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. Stifel Nicolaus restated a "buy" rating and issued a $140.00 price objective on shares of Micron Technology in a report on Friday, April 12th. Finally, UBS Group increased their target price on shares of Micron Technology from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology in the first quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its holdings in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer's stock worth $29,000 after buying an additional 173 shares during the last quarter. Tidemark LLC purchased a new stake in Micron Technology during the 4th quarter worth approximately $25,000. Pingora Partners LLC purchased a new stake in Micron Technology during the 4th quarter worth approximately $26,000. Finally, Riverview Trust Co acquired a new position in shares of Micron Technology during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Company Profile

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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