Micron Technology, Inc. (NASDAQ:MU) Director Sells $876,050.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the sale, the director directly owned 22,762 shares of the company’s stock, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Micron Technology Stock Performance

Shares of MU opened at $122.03 on Friday. The company has a market cap of $136.56 billion, a PE ratio of 21.99 and a beta of 1.35. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $102.72 and a 200-day moving average price of $94.77. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $137.13.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter last year, the company posted $0.62 EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MU. Robert W. Baird lifted their price objective on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Cantor Fitzgerald lifted their price objective on Micron Technology from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. Bank of America lifted their price objective on Micron Technology from $84.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Finally, KeyCorp lifted their target price on Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $146.21.

Institutional Trading of Micron Technology

A number of large investors have recently modified their holdings of MU. Sage Capital Advisors llc lifted its position in Micron Technology by 17.9% in the 2nd quarter. Sage Capital Advisors llc now owns 2,890 shares of the semiconductor manufacturer’s stock worth $356,000 after buying an additional 438 shares during the last quarter. Fiduciary Financial Group LLC lifted its position in Micron Technology by 84.5% in the 2nd quarter. Fiduciary Financial Group LLC now owns 5,378 shares of the semiconductor manufacturer’s stock worth $650,000 after buying an additional 2,463 shares during the last quarter. Howard Financial Services LTD. bought a new stake in Micron Technology in the 2nd quarter worth approximately $232,000. Doliver Advisors LP lifted its position in Micron Technology by 2.4% in the 2nd quarter. Doliver Advisors LP now owns 7,046 shares of the semiconductor manufacturer’s stock worth $868,000 after buying an additional 163 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new stake in Micron Technology in the 2nd quarter worth approximately $211,000. Institutional investors own 80.84% of the company’s stock.

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.