Micron Technology, Inc. (NASDAQ:MU) Director Sells $223,403.72 in Stock

Micron Technology, Inc. (NASDAQ:MU) Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Micron Technology Price Performance

NASDAQ MU traded up $3.14 on Wednesday, reaching $94.34. 13,992,886 shares of the stock traded hands, compared to its average volume of 22,327,725. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a market cap of $105.11 billion, a price-to-earnings ratio of 27.19 and a beta of 1.18. The firm’s fifty day simple moving average is $95.81 and its 200 day simple moving average is $98.63. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the company earned ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s payout ratio is currently 13.26%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MU. UBS Group reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. TD Cowen decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley lowered their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.96.

Institutional Trading of Micron Technology

A number of large investors have recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology in the fourth quarter worth approximately $26,000. Stone House Investment Management LLC boosted its stake in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the period. True Wealth Design LLC grew its position in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. Beacon Capital Management LLC raised its stake in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Micron Technology in the third quarter valued at $39,000. 80.84% of the stock is currently owned by institutional investors.

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.