Micron Technology, Inc. (NASDAQ:MU) EVP Sells $1,476,120.00 in Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP Sumit Sadana sold 12,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $123.01, for a total value of $1,476,120.00. Following the completion of the sale, the executive vice president now directly owns 218,048 shares of the company's stock, valued at $26,822,084.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sumit Sadana also recently made the following trade(s):

• On Thursday, May 9th, Sumit Sadana sold 13,239 shares of Micron Technology stock. The stock was sold at an average price of $118.77, for a total value of $1,572,396.03.

Micron Technology Stock Performance

Micron Technology stock traded up $1.76 during midday trading on Monday, reaching $123.00. The stock had a trading volume of 16,636,649 shares, compared to its average volume of 19,896,977. 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 firm has a market capitalization of $136.21 billion, a PE ratio of -35.65 and a beta of 1.27. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $130.54. The firm's 50-day moving average price is $111.77 and its 200 day moving average price is $91.80.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Thursday, March 28th. Micron Technology's dividend payout ratio is currently -13.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Micron Technology from $105.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. Fox Advisors raised shares of Micron Technology from an "equal weight" rating to an "overweight" rating in a research report on Thursday, March 21st. Piper Sandler lifted their target price on Micron Technology from $95.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. KeyCorp boosted their target price on Micron Technology from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. Finally, Cantor Fitzgerald upped their price objective on Micron Technology from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.60.

Institutional Investors Weigh In On Micron Technology

Several hedge funds have recently added to or reduced their stakes in MU. Tidemark LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $25,000. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology in the first quarter valued at about $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology during the fourth quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in shares of Micron Technology during the third quarter worth about $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Micron Technology during the 3rd quarter valued at about $28,000. 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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