Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
MU stock traded up $0.54 during mid-day trading on Thursday, hitting $89.82. 14,418,553 shares of the stock were exchanged, compared to its average volume of 21,967,125. The business has a fifty day moving average price of $102.07 and a 200 day moving average price of $107.66. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock has a market capitalization of $100.07 billion, a price-to-earnings ratio of 132.09 and a beta of 1.16.
Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the prior year, the firm earned ($0.95) earnings per share. Micron Technology's revenue for the quarter was up 84.3% on a year-over-year basis. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology's payout ratio is presently 13.26%.
Several analysts have recently issued reports on MU shares. UBS Group lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company lowered their target price on shares of Micron Technology from $175.00 to $140.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein cut their price target on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. KeyCorp decreased their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 8th. Finally, Susquehanna cut their target price on Micron Technology from $175.00 to $165.00 and set a "positive" rating for the company in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $135.24.
View Our Latest Stock Analysis on Micron Technology
Hedge funds have recently added to or reduced their stakes in the business. Independent Solutions Wealth Management LLC increased its stake in Micron Technology by 30.7% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 20,958 shares of the semiconductor manufacturer's stock worth $2,174,000 after purchasing an additional 4,921 shares during the period. Principal Financial Group Inc. increased its stake in shares of Micron Technology by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,255,931 shares of the semiconductor manufacturer's stock worth $130,253,000 after buying an additional 52,912 shares during the period. Dantai Capital Ltd raised its holdings in Micron Technology by 25.0% during the 3rd quarter. Dantai Capital Ltd now owns 22,945 shares of the semiconductor manufacturer's stock valued at $2,380,000 after buying an additional 4,590 shares during the last quarter. Franklin Resources Inc. boosted its position in Micron Technology by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer's stock valued at $789,054,000 after buying an additional 321,955 shares during the period. Finally, Peapack Gladstone Financial Corp grew its holdings in Micron Technology by 3.2% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 13,102 shares of the semiconductor manufacturer's stock worth $1,359,000 after acquiring an additional 411 shares during the last quarter. 80.84% of the stock is owned by institutional investors.
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.
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