Micron Technology, Inc. (NASDAQ:MU) EVP Manish H. Bhatia Sells 80,000 Shares

Micron Technology, Inc. (NASDAQ:MU) EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president directly owned 275,067 shares of the company’s stock, valued at $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Micron Technology Stock Up 0.2%

Shares of NASDAQ:MU opened at $122.03 on Friday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $137.13. The company has a market capitalization of $136.56 billion, a PE ratio of 21.99 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The company has a fifty day moving average of $102.72 and a 200-day moving average of $94.77.

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

Micron Technology Dividend Announcement

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

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after buying an additional 108 shares during the last quarter. Twin Capital Management Inc. increased its position in shares of Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after acquiring an additional 108 shares during the period. D.B. Root & Company LLC raised its stake in shares of Micron Technology by 3.7% during the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock valued at $262,000 after acquiring an additional 108 shares during the last quarter. Cim Investment Management Inc. boosted its holdings in shares of Micron Technology by 0.5% during the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock worth $1,941,000 after purchasing an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Micron Technology by 1.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock worth $883,000 after purchasing an additional 119 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Susquehanna upped their price target on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “positive” rating in a research report on Thursday, June 26th. Citigroup upped their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 26th. Needham & Company LLC increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Wall Street Zen raised shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Finally, Rosenblatt Securities upped their price target on shares of Micron Technology from $172.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.