Scott J. Deboer Sells 40,000 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the sale, the executive vice president now directly owns 158,617 shares in the company, valued at approximately $17,497,041.27. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Micron Technology Price Performance

Shares of MU opened at $114.70 on Friday. The company has a 50 day moving average of $108.95 and a two-hundred day moving average of $89.67. The company has a market cap of $126.63 billion, a price-to-earnings ratio of -33.25 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping 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 firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the firm earned ($2.03) EPS. The business’s quarterly revenue was up 57.7% on a year-over-year basis. As a group, analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is currently -13.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Raymond James upped their target price on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley boosted their price objective on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. increased their price target on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Finally, KeyCorp increased their target price on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Tidemark LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $25,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology during the 1st quarter worth about $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at about $26,000. OFI Invest Asset Management acquired a new position in shares of Micron Technology in the 3rd quarter valued at about $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology in the third quarter worth about $28,000. Institutional investors and hedge funds 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.