Scott J. Deboer Sells 40,000 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Micron Technology Stock Up 2.1 %

Shares of NASDAQ MU traded up $2.37 during midday trading on Friday, hitting $114.70. The company’s stock had a trading volume of 15,556,356 shares, compared to its average volume of 20,261,770. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The business’s fifty day simple moving average is $108.38 and its two-hundred day simple moving average is $89.36. The firm has a market capitalization of $127.02 billion, a price-to-earnings ratio of -33.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.03) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is presently -13.33%.

Institutional Trading of Micron Technology

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Micron Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock valued at $8,106,001,000 after acquiring an additional 755,588 shares during the last quarter. Sanders Capital LLC lifted its position in shares of Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after buying an additional 503,923 shares during the last quarter. FMR LLC boosted its holdings in shares of Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after buying an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after buying an additional 5,257,201 shares during the last quarter. Finally, Morgan Stanley raised its stake in Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after acquiring an additional 2,852,688 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Needham & Company LLC raised their price target on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. UBS Group upped their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Wedbush boosted their target price on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

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.