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

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) fell 1.6% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $87.58 and last traded at $88.37. 4,909,996 shares traded hands 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 the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

MU has been the topic of several analyst reports. Morgan Stanley dropped their target price on shares of Micron Technology from $114.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 19th. Mizuho cut their target price on shares of Micron Technology from $135.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on Micron Technology from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Barclays dropped their price target on Micron Technology from $145.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company reduced their price target on shares of Micron Technology from $175.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and an average target price of $135.24.

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Micron Technology Stock Down 1.3 %

The stock has a market cap of $98.75 billion, a price-to-earnings ratio of 130.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm's 50-day simple moving average is $101.17 and its two-hundred day simple moving average is $107.22.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm's quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.95) earnings per share. On average, sell-side 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. Shareholders of record on Monday, December 30th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology's dividend payout ratio is currently 13.26%.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Advisory Services LLC boosted its position in Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer's stock worth $1,003,000 after purchasing an additional 98 shares during the period. Stonebrook Private Inc. boosted its holdings in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock worth $255,000 after buying an additional 98 shares during the period. John G Ullman & Associates Inc. grew its stake in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer's stock valued at $421,000 after buying an additional 100 shares during the last quarter. Trust Co. of Vermont raised its holdings in Micron Technology by 14.3% in the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer's stock valued at $85,000 after acquiring an additional 103 shares during the period. Finally, PDS Planning Inc lifted its position in Micron Technology by 2.4% during the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer's stock worth $454,000 after acquiring an additional 104 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

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.