Insider Selling: Micron Technology, Inc. (NASDAQ:MU) EVP Sells $4,412,400.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer sold 40,000 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Micron Technology Stock Up 2.1 %

NASDAQ MU opened at $114.70 on Monday. Micron Technology, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock has a market cap of $126.63 billion, a PE ratio of -33.25 and a beta of 1.27. The firm has a 50-day simple moving average of $108.95 and a 200 day simple moving average of $89.96.

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

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. UBS Group upped their target price on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. Piper Sandler increased their price objective on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.20.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. DecisionPoint Financial LLC bought a new position in Micron Technology in the 1st quarter valued at $25,000. Valued Wealth Advisors LLC lifted its stake in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares during the period. Tidemark LLC bought a new position in Micron Technology in the fourth quarter valued at about $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the fourth quarter worth about $26,000. Finally, Riverview Trust Co bought a new stake in Micron Technology during the 1st quarter worth about $39,000. 80.84% of the stock is owned by institutional investors.

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.