Micron Technology, Inc. (NASDAQ:MU) EVP Sells $416,676.90 in Stock

Micron Technology, Inc. (NASDAQ:MU) EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Micron Technology Stock Down 1.3 %

MU stock opened at $88.63 on Friday. The company’s 50 day moving average is $101.17 and its 200 day moving average is $107.02. The stock has a market cap of $98.75 billion, a price-to-earnings ratio of 130.34 and a beta of 1.16. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.95) EPS. Sell-side analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently modified their holdings of MU. Whittier Trust Co. grew its position in Micron Technology by 317.2% during the second quarter. Whittier Trust Co. now owns 1,210 shares of the semiconductor manufacturer’s stock valued at $159,000 after acquiring an additional 920 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Micron Technology by 32.5% during the 2nd quarter. Arkadios Wealth Advisors now owns 5,746 shares of the semiconductor manufacturer’s stock valued at $756,000 after purchasing an additional 1,408 shares during the last quarter. Ameritas Advisory Services LLC raised its position in Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares during the period. Panagora Asset Management Inc. lifted its stake in Micron Technology by 383.0% in the second quarter. Panagora Asset Management Inc. now owns 66,741 shares of the semiconductor manufacturer’s stock worth $8,778,000 after purchasing an additional 52,924 shares during the last quarter. Finally, F M Investments LLC purchased a new stake in Micron Technology during the second quarter valued at about $567,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price objective on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus lowered their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Mizuho lowered their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

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.