April S. Arnzen Sells 4,890 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Micron Technology Stock Up 0.8 %

MU stock opened at $132.59 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The stock has a market capitalization of $147.02 billion, a price-to-earnings ratio of -93.20 and a beta of 1.18. The business’s fifty day moving average price is $128.51 and its two-hundred day moving average price is $106.81.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s revenue for the quarter was up 81.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.57) earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 0.39 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MU shares. Barclays upped their target price on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Cantor Fitzgerald increased their price objective on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research note on Tuesday, June 25th. Mizuho upped their price target on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Wedbush reissued an “outperform” rating and issued a $170.00 price objective on shares of Micron Technology in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.52.

Institutional Investors Weigh In On Micron Technology

A number of large investors have recently added to or reduced their stakes in MU. TCW Group Inc. raised its position in Micron Technology by 5.7% during the fourth quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after purchasing an additional 28,649 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after buying an additional 5,958 shares in the last quarter. Savoie Capital LLC bought a new stake in shares of Micron Technology during the 3rd quarter worth $4,229,000. TrinityPoint Wealth LLC boosted its stake in Micron Technology by 33.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after buying an additional 8,736 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in Micron Technology by 176.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock valued at $1,349,000 after acquiring an additional 10,096 shares during the last quarter. 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.