Micron Technology (NASDAQ:MU) EVP April Arnzen Sells 15,000 Shares

Micron Technology, Inc. (NASDAQ:MU) EVP April Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the sale, the executive vice president directly owned 131,580 shares in the company, valued at $21,584,383.20. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Micron Technology Price Performance

MU opened at $183.75 on Friday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $186.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The company’s 50 day simple moving average is $133.36 and its 200-day simple moving average is $110.11. The stock has a market capitalization of $205.64 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 0.40 and a beta of 1.56.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.115 per share. 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 is 6.06%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MU. Raymond James Financial increased their price target on shares of Micron Technology from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Wells Fargo & Company increased their price target on shares of Micron Technology from $170.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of Micron Technology from $185.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Finally, TD Cowen increased their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a report on Friday, September 19th. 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. According to MarketBeat, Micron Technology currently has a consensus rating of “Buy” and an average price target of $184.77.

Institutional Investors Weigh In On Micron Technology

Several hedge funds have recently bought and sold shares of MU. Brighton Jones LLC raised its holdings in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after purchasing an additional 976 shares during the period. Harbor Investment Advisory LLC raised its holdings in Micron Technology by 240.0% in the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 300 shares during the period. Merit Financial Group LLC raised its holdings in Micron Technology by 22.6% in the first quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer’s stock worth $1,692,000 after purchasing an additional 3,593 shares during the period. HBW Advisory Services LLC acquired a new stake in Micron Technology in the first quarter worth $281,000. Finally, Romano Brothers AND Company acquired a new stake in Micron Technology in the first quarter worth $497,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.