Micron Technology, Inc. (NASDAQ:MU - Get Free Report) EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now owns 319,119 shares of the company's stock, valued at $38,032,602.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Micron Technology Price Performance
MU opened at $119.32 on Thursday. The firm has a market cap of $131.73 billion, a price-to-earnings ratio of -34.59 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average price is $110.11 and its 200 day moving average price is $90.70. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54.
Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted ($2.03) earnings per share. The business's revenue for the quarter was up 57.7% compared to the same quarter last year. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.
Micron Technology Dividend Announcement
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Thursday, March 28th. Micron Technology's dividend payout ratio is currently -13.33%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Revolve Wealth Partners LLC lifted its position in Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer's stock worth $776,000 after acquiring an additional 98 shares in the last quarter. Retirement Group LLC boosted its stake in shares of Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer's stock valued at $43,000 after purchasing an additional 100 shares during the period. AIA Group Ltd grew its holdings in Micron Technology by 2.1% during the 1st quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer's stock valued at $568,000 after purchasing an additional 101 shares in the last quarter. Manchester Capital Management LLC increased its stake in Micron Technology by 5.2% during the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer's stock worth $250,000 after buying an additional 104 shares during the period. Finally, Premier Path Wealth Partners LLC lifted its holdings in Micron Technology by 3.1% in the 1st quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer's stock worth $493,000 after buying an additional 124 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Micron Technology from $95.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Needham & Company LLC increased their price target on Micron Technology from $100.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Mizuho lifted their price objective on Micron Technology from $105.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Wells Fargo & Company upped their target price on Micron Technology from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, March 21st. Finally, Bank of America lifted their price target on Micron Technology from $120.00 to $144.00 and gave the stock a "buy" rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $123.60.
Check Out Our Latest Stock Analysis on Micron Technology
About Micron Technology
(
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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.
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