Micron Technology, Inc. (NASDAQ:MU) SVP Sells $1,059,412.00 in Stock
Micron Technology, Inc. (NASDAQ:MU – Get Rating) SVP Michael W. Bokan sold 16,600 shares of Micron Technology in a trade that took place on Tuesday August 16th. The shares were sold at an average price of $63.82, for a total transaction of $1,059,412.00. Following the sale, the senior vice president now owns 119,126 shares of the company, valued at $7,602,621.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink.
Micron Technology Price Performance
Shares of NASDAQ MU opened at $61.62 on Thursday. The company has a market capitalization of $67.98 billion, a P/E ratio of 7.03, a PEG ratio of 0.59 and a beta of 1.28. Micron Technology, Inc. has a 12-month low of $51.40 and a 12-month high of $98.45. The company has a quick ratio of 2.44, a current ratio of 3.24 and a leverage ratio of 0.14. The company has a 50-day moving average of $59.93 and a 200-day moving average of $71.03.
Micron Technology Inc (NASDAQ:MU – Get Rating) last reported results on Thursday, June 30. The semiconductor maker reported EPS of $2.50 for the quarter, beating analyst consensus estimates of $2.33 by $0.17. The company posted revenue of $8.64 billion in the quarter, versus analyst estimates of $8.66 billion. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The company’s quarterly revenue increased by 16.4% compared to the same quarter last year. In the same quarter last year, the company achieved EPS of $1.81. As a group, research analysts expect Micron Technology, Inc. to post 8 EPS for the current fiscal year.
Micron Technology Increases Dividends
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 26. Shareholders of record on Monday, July 11 received a dividend of $0.115 per share. The ex-dividend date was Friday, July 8. This represents an annualized dividend of $0.46 and a yield of 0.75%. This is a boost from Micron Technology’s previous quarterly dividend of $0.10. Micron Technology’s dividend payout ratio is currently 5.25%.
Changes to analyst ratings
UM has been the subject of several research reports. Cowen cut his price target on Micron Technology stock from $90.00 to $70.00 and gave the stock an “outperform” rating in a Friday, July 1 research note. Deutsche Bank Aktiengesellschaft lowered its price target on Micron Technology shares from $70.00 to $68.00 and set a “buy” rating for the company in a Wednesday, Aug. 10 research note. Goldman Sachs Group lowered its price target on Micron Technology from $86.00 to $75.00 and set a “buy” rating on the stock in a Friday, July 1 report. JPMorgan Chase & Co. lowered its price target on Micron Technology from $120.00 to $96.00 and set an “overweight” rating for the company in a Tuesday, June 28 report. Finally, Summit Insights downgraded Micron Technology from a “buy” rating to a “hold” rating in a Sunday, June 12 research report. Two research analysts rated the stock with a sell rating, three issued a hold rating and twenty-three gave the company’s stock a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.54.
Micron Technology Institutional Trading
Large investors have recently changed their positions in the stock. Ritholtz Wealth Management increased its position in Micron Technology shares by 3.0% during the first quarter. Ritholtz Wealth Management now owns 6,520 shares of the semiconductor maker valued at $508,000 after buying 187 additional shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in Micron Technology by 6.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,583 shares of the semiconductor maker valued at $243,000 after buying an additional 162 shares in the last quarter. Cooper Financial Group increased its stake in shares of Micron Technology by 18.4% during the 1st quarter. Cooper Financial Group now owns 2,922 shares of the semiconductor maker worth $228,000 after acquiring 454 additional shares in the last quarter. Mather Group LLC. increased its position in Micron Technology shares by 6.5% during the 4th quarter. Mather Group LLC. now owns 3,728 shares of the semiconductor maker valued at $347,000 after acquiring an additional 226 shares during the period. Finally, Wedbush Securities Inc. increased its position in Micron Technology shares by 15.5% during the first quarter. Wedbush Securities Inc. now owns 19,404 shares of the semiconductor maker valued at $1,511,000 after acquiring 2,606 additional shares during the period. 80.35% of the shares are currently held by institutional investors.
Micron Technology Company Profile
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Micron Technology, Inc designs, manufactures and sells memory and storage products worldwide. The Company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit and Embedded Business Unit. It provides memory and storage technologies including DRAM products, which are low-latency dynamic random access memory (DRAM) semiconductor devices that enable high-speed data retrieval; NAND products that are non-volatile, rewritable semiconductor storage devices; and NOR memory products, which are non-volatile rewritable semiconductor memory devices that offer fast read speeds under the Micron and Crucial brands, as well as through private labels.
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