Micron Technology, Inc. (NASDAQ:MU) EVP Sells $6,354,320.06 in Stock

Micron Technology, Inc. (NASDAQ:MU) EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was 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 owns 319,119 shares in the company, valued at approximately $38,032,602.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Micron Technology Stock Down 1.3 %

Shares of NASDAQ MU opened at $117.81 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a 1 year low of $59.79 and a 1 year high of $130.54. The stock’s 50-day simple moving average is $110.70 and its 200-day simple moving average is $90.90. The firm has a market cap of $130.06 billion, a price-to-earnings ratio of -34.15 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.03) EPS. As a group, equities analysts anticipate 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. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brown Advisory Inc. boosted its holdings in Micron Technology by 32.3% in the third quarter. Brown Advisory Inc. now owns 99,448 shares of the semiconductor manufacturer’s stock worth $6,765,000 after purchasing an additional 24,277 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Micron Technology by 10.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,921 shares of the semiconductor manufacturer’s stock valued at $396,000 after buying an additional 576 shares during the period. Advisor Partners II LLC grew its position in shares of Micron Technology by 29.4% during the 3rd quarter. Advisor Partners II LLC now owns 63,171 shares of the semiconductor manufacturer’s stock valued at $4,298,000 after buying an additional 14,361 shares during the last quarter. Catalyst Financial Partners LLC raised its stake in Micron Technology by 11.6% during the third quarter. Catalyst Financial Partners LLC now owns 3,538 shares of the semiconductor manufacturer’s stock worth $241,000 after acquiring an additional 368 shares during the period. Finally, CENTRAL TRUST Co raised its stake in Micron Technology by 38.6% during the third quarter. CENTRAL TRUST Co now owns 2,240 shares of the semiconductor manufacturer’s stock worth $152,000 after acquiring an additional 624 shares during the period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MU shares. KeyCorp lifted their price objective on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Bank of America upped their price objective on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Barclays raised their target price on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Mizuho upped their price target on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, UBS Group lifted their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.60.

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.