Insider Selling: Micron Technology, Inc. (NASDAQ:MU) EVP Sells $2,502,200.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the completion of the sale, the executive vice president now directly owns 166,353 shares in the company, valued at $20,812,423.83. This represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Micron Technology Stock Down 1.0%

Shares of Micron Technology stock opened at $124.76 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $137.13. The stock has a market capitalization of $139.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28. The company’s 50 day moving average price is $98.71 and its 200-day moving average price is $94.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. The firm had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.83 billion. During the same quarter last year, the business earned $0.62 earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Monday, July 7th. Micron Technology’s dividend payout ratio is 11.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the fourth quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology in the first quarter worth $33,000. Roxbury Financial LLC lifted its stake in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 300 shares during the period. Curio Wealth LLC purchased a new stake in Micron Technology in the fourth quarter worth $34,000. Finally, AllSquare Wealth Management LLC lifted its stake in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $35,000 after acquiring an additional 200 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MU. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $135.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird raised their target price on shares of Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Susquehanna raised their target price on shares of Micron Technology from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Thursday. Bank of America raised their target price on shares of Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barclays raised their target price on shares of Micron Technology from $95.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $146.21.

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.