Micron Technology, Inc. (NASDAQ:MU) SVP Michael W. Bokan Sells 15,000 Shares

Micron Technology, Inc. (NASDAQ:MU) SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the sale, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Micron Technology Stock Up 2.1 %

Shares of MU stock opened at $114.70 on Friday. The company’s fifty day simple moving average is $108.95 and its two-hundred day simple moving average is $89.67. Micron Technology, Inc. has a 52 week low of $59.55 and a 52 week high of $130.54. The stock has a market cap of $126.63 billion, a P/E ratio of -33.25 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

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

Micron Technology Announces Dividend

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

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently bought and sold shares of MU. Tidemark LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $25,000. DecisionPoint Financial LLC purchased a new position in Micron Technology during the first quarter worth $25,000. Pingora Partners LLC bought a new position in Micron Technology during the fourth quarter valued at $26,000. OFI Invest Asset Management purchased a new stake in shares of Micron Technology in the third quarter valued at $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Micron Technology in the 3rd quarter worth about $28,000. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MU. Wells Fargo & Company upped their price objective on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. KeyCorp increased their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Stifel Nicolaus restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. Barclays increased their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.20.

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.