Micron Technology (NASDAQ:MU) Trading Down 1.6% After Insider Selling

Micron Technology, Inc. (NASDAQ:MU)’s share price fell 1.6% on Friday after an insider sold shares in the company. The stock traded as low as $87.58 and last traded at $88.37. 4,909,996 shares were traded during trading, a decline of 78% from the average session volume of 21,897,129 shares. The stock had previously closed at $89.82.

Specifically, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MU shares. TD Cowen lowered their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, KeyCorp cut their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Trading Down 1.3 %

The stock has a market capitalization of $98.75 billion, a P/E ratio of 130.34 and a beta of 1.16. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $101.17 and a two-hundred day moving average price of $107.22.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the business posted ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. On average, analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio is 13.26%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MU. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the 3rd quarter valued at $26,000. Davis Capital Management bought a new stake in shares of Micron Technology during the 3rd quarter worth $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Micron Technology in the second quarter valued at about $39,000. Cranbrook Wealth Management LLC bought a new position in Micron Technology in the second quarter valued at about $42,000. Finally, Stone House Investment Management LLC raised its stake in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. 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.