Micron Technology (NASDAQ:MU) Stock Price Down 3.3% Following Insider Selling

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price traded down 3.3% on Friday following insider selling activity. The stock traded as low as $88.60 and last traded at $88.17. 4,406,255 shares were traded during mid-day trading, a decline of 80% from the average session volume of 22,197,486 shares. The stock had previously closed at $91.16.

Specifically, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup cut their target price on Micron Technology from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. TD Cowen cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Rosenblatt Securities decreased their price objective on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, KGI Securities raised Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.76.

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Micron Technology Trading Up 2.1 %

The company's 50-day simple moving average is $95.21 and its 200 day simple moving average is $98.49. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $99.14 billion, a PE ratio of 25.56 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the firm earned $0.42 earnings per share. Micron Technology's revenue was up 38.2% compared to the same quarter last year. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Institutional Investors Weigh In On Micron Technology

Large investors have recently modified their holdings of the business. Trivant Custom Portfolio Group LLC increased its position in shares of Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after acquiring an additional 100 shares during the last quarter. Xcel Wealth Management LLC boosted its position in shares of Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after purchasing an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares during the period. Twin Capital Management Inc. increased its holdings in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after purchasing an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC raised its position in Micron Technology by 1.5% in the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock valued at $629,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

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.