Micron Technology (NASDAQ:MU) Director Richard Beyer Sells 5,552 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU) Director Richard Beyer sold 5,552 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the completion of the sale, the director owned 96,031 shares of the company’s stock, valued at $14,950,106.08. The trade was a 5.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Micron Technology Trading Up 4.2%

MU opened at $163.90 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $183.42 billion, a PE ratio of 21.59, a PEG ratio of 0.35 and a beta of 1.47. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $170.45. The firm has a 50-day moving average price of $129.31 and a two-hundred day moving average price of $108.64.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is 6.06%.

Institutional Trading of Micron Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC raised its holdings in shares of Micron Technology by 64.3% in the second quarter. Corient Private Wealth LLC now owns 485,961 shares of the semiconductor manufacturer’s stock valued at $59,895,000 after purchasing an additional 190,122 shares during the last quarter. National Wealth Management Group LLC acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $697,000. RS Crum Inc. acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $246,000. Caldwell Trust Co acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $43,000. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Micron Technology by 15.6% in the second quarter. Valeo Financial Advisors LLC now owns 10,750 shares of the semiconductor manufacturer’s stock valued at $1,325,000 after purchasing an additional 1,447 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MU. Bank of America raised their target price on shares of Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Susquehanna raised their target price on shares of Micron Technology from $160.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, September 17th. Wolfe Research raised their target price on shares of Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Morgan Stanley lifted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, September 22nd. Finally, Wedbush lifted their price objective on shares of Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $184.77.

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.