Michael W. Bokan Sells 15,000 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Micron Technology Price Performance

Shares of MU opened at $114.70 on Friday. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54. The stock has a market cap of $127.02 billion, a PE ratio of -33.25 and a beta of 1.27. The firm has a 50-day simple moving average of $108.38 and a two-hundred day simple moving average of $89.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.35 billion. During the same period last year, the business earned ($2.03) earnings per share. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. As a group, analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders 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 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Analysts Set New Price Targets

A number of research firms have recently commented on MU. Robert W. Baird boosted their target price on shares of Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Needham & Company LLC lifted their price target on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Mizuho increased their price objective on Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, Bank of America increased their target price on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently made changes to their positions in the stock. Revolve Wealth Partners LLC grew its holdings in shares of Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares in the last quarter. Retirement Group LLC grew its holdings 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 in the last quarter. Premier Path Wealth Partners LLC grew its holdings in shares of Micron Technology by 3.1% in the first quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer’s stock valued at $493,000 after purchasing an additional 124 shares in the last quarter. Sandy Spring Bank grew its holdings in shares of Micron Technology by 11.1% in the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after purchasing an additional 130 shares in the last quarter. Finally, PDS Planning Inc grew its holdings in shares of Micron Technology by 3.4% in the first quarter. PDS Planning Inc now owns 3,943 shares of the semiconductor manufacturer’s stock valued at $465,000 after purchasing an additional 130 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

About Micron Technology

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.