Micron Technology (NASDAQ:MU) Director Steven Gomo Sells 2,000 Shares

Micron Technology, Inc. (NASDAQ:MU) Director Steven Gomo sold 2,000 shares of Micron Technology stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the sale, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Micron Technology Stock Up 4.8%

Micron Technology stock traded up $37.05 during trading hours on Wednesday, hitting $803.63. 54,544,236 shares of the stock traded hands, compared to its average volume of 45,462,540. The firm’s 50-day moving average price is $464.69 and its two-hundred day moving average price is $364.25. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The company has a market cap of $906.28 billion, a PE ratio of 37.94 and a beta of 1.91. Micron Technology, Inc. has a one year low of $90.93 and a one year high of $818.67.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is presently 2.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. State Street Corp boosted its holdings in shares of Micron Technology by 2.1% during the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer’s stock valued at $15,061,310,000 after purchasing an additional 1,090,644 shares during the last quarter. Capital International Investors boosted its holdings in shares of Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock valued at $3,910,198,000 after purchasing an additional 155,860 shares during the last quarter. Norges Bank bought a new position in shares of Micron Technology during the 4th quarter valued at about $6,433,456,000. Finally, Morgan Stanley boosted its holdings in shares of Micron Technology by 5.1% during the 4th quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock valued at $4,679,771,000 after purchasing an additional 794,289 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MU shares. Mizuho boosted their price objective on shares of Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Royal Bank Of Canada boosted their target price on shares of Micron Technology from $425.00 to $525.00 and gave the company an “outperform” rating in a research note on Monday, March 16th. HSBC upped their price objective on Micron Technology from $350.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Barclays upped their price objective on Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Finally, UBS Group upped their target price on shares of Micron Technology from $510.00 to $535.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $495.63.

Key Micron Technology News

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Analysts and market commentators say Micron is benefiting from surging demand for HBM, DRAM and AI infrastructure memory, with supply still tight. BofA Sees More Room for Micron’s AI Rally
• Positive Sentiment: Micron is being highlighted as a direct AI winner, with articles arguing the company is still early in the AI cycle rather than near the top of it. Why Daniel Newman Thinks Micron Technology Proves We Are Still In AI ‘Parking Lot’— It Is ‘Not Late’ To Get In
• Positive Sentiment: Fresh product momentum also supports the bull case, including sampling of a faster 256GB DDR5 server module for AI and data-center workloads. Micron Redefines AI Performance With Sampling of 256GB DDR5 Server Module
• Neutral Sentiment: Some investors are also watching Micron’s sharp run and warning that the stock may be extended after a huge rally, which could mean near-term volatility even if the long-term story remains strong. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: A broader chip-sector pullback and profit-taking briefly weighed on MU earlier in the week as traders worried the memory-supercycle trade had run too far, too fast. Why Sandisk, Micron stock are plunging upto 9% on Tuesday

Micron Technology Company Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.