April S. Arnzen Sells 4,890 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

On December 20th, April S. Arnzen, the Executive Vice President at Micron Technology, Inc. (NASDAQ:MU), sold 4,890 shares of the company's stock. The shares were sold at an average price of $85.21 each, resulting in a total sale value of $416,676.90. After this transaction, Arnzen retains ownership of 181,223 shares in Micron, with a total value of approximately $15,442,011.83. This sale marks a 2.63% reduction in her overall stake in the company. The details of this transaction were disclosed in a filing made with the Securities and Exchange Commission (SEC).

Micron Technology, a key player in the semiconductor industry, has seen interesting price movement in its stock recently. For instance, on a Thursday, the stock price was recorded at $89.82, increasing by $0.54 during midday trading. The company experienced a trading volume of 14,418,553 shares, falling short of its average volume of 21,967,125 shares. Micron's stock has fluctuated significantly over the past year, with a low of $79.15 and a high reaching $157.54.

In terms of financial metrics, Micron has a market capitalization of $100.07 billion, a price-to-earnings ratio of 132.09, and a beta of 1.16, suggesting moderate volatility compared to the overall market. The company maintains a healthy balance sheet, with a debt-to-equity ratio of 0.29 and a current ratio of 2.64, showing its ability to cover short-term liabilities.

Earnings Performance

Micron Technology last reported its earnings on December 18th, where it surprised analysts by reporting an earnings per share (EPS) of $1.79, beating the expected $1.60 by $0.19. Year-over-year, Micron's revenue increase was significant, with quarterly earnings demonstrating an 84.3% rise compared to the same period last year. Analysts estimate that for the current year, Micron will post an EPS of 8.31.

Dividend Announcement

In addition to its stock performance, Micron Technology has announced a quarterly dividend payment of $0.115 per share, set to be paid on January 15th to shareholders on record as of December 30th. This dividend translates to an annualized payout of $0.46 and represents a yield of 0.51%. The ex-dividend date is also December 30th. The company's payout ratio stands at 13.26%, reflecting its prudent approach to distributing profits to shareholders.

Analyst Ratings

The stock has received various updates from analysts recently. UBS Group lowered its price target for Micron shares from $135.00 to $125.00 while maintaining a "buy" rating. Wells Fargo also reduced their target, shifting from $175.00 to $140.00, keeping an "overweight" stance. Other institutions, including Sanford C. Bernstein and KeyCorp, have made similar adjustments to their price targets.

Overall, one research analyst has rated Micron shares as a sell, while three maintain a hold rating, and an impressive twenty-three analysts rate the stock as a buy. The consensus rating from analysts is labeled as "Moderate Buy" with an average price target of $135.24.

Institutional Stake Changes

In terms of institutional trading, recent reports indicate that hedge funds have adjusted their positions in Micron. For example, Independent Solutions Wealth Management increased its holdings by 30.7%, while Principal Financial Group boosted its stake by 4.4%. Other firms like Dantai Capital Ltd and Franklin Resources have also amplified their investments. Currently, institutional investors own approximately 80.84% of Micron's shares.

About Micron Technology

Micron Technology, Inc. specializes in the design, development, and manufacturing of memory and storage products across various sectors. The company categorizes its operations into four main segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. Micron offers a range of memory technologies, including dynamic random access memory (DRAM), storage devices, and memory solutions under recognizable brands such as Micron and Crucial.

Micron, Stock, Earnings