Micron Technology Director Sells Shares in Recent Transaction
Micron Technology, Inc. (NASDAQ:MU) director Mary Pat McCarthy sold a portion of her holdings in the company, according to a filing with the Securities and Exchange Commission. The transaction, which occurred on Monday, March 3rd, involved the sale of 2,404 shares of the firm’s stock.
The shares were sold at an average price of $92.93, resulting in a total value of $223,403.72. Following the sale, McCarthy continues to hold a significant position in the company, with direct ownership of 27,358 shares. These remaining shares are valued at $2,542,378.94.
This transaction represents an 8.08% decrease in McCarthy’s holdings. The details of the sale were made public through a legal filing with the SEC, as required for such insider transactions.
Micron Technology’s stock price has fluctuated recently. On Friday, the stock traded up $3.69 during midday, reaching $92.96. The trading volume on Friday was 19,124,262 shares, slightly below the average volume of 22,173,117 shares. The company’s 52-week range is between a low of $83.54 and a high of $157.54.
Financial data for Micron Technology shows a current ratio of 2.72, a quick ratio of 1.75, and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $95.99, and its 200-day moving average is $98.43. The company currently has a market capitalization of $103.57 billion, a price-to-earnings (PE) ratio of 26.79, and a beta of 1.23.
Micron Technology last reported its earnings on Wednesday, December 18th, 2024, with earnings per share (EPS) of $1.79, surpassing analyst estimates of $1.60. Revenue for the quarter was $8.71 billion which matched the analysts’ expectations. The company’s return on equity was 8.32%, with a net margin of 13.34%. Revenue increased significantly year-over-year, up 84.3%. For the current year, analysts predict an EPS of $6.08.
In related news, the company recently declared a quarterly dividend of $0.115 per share which was paid on January 15th. The dividend represents an annualized dividend of $0.46 and a dividend yield of 0.49%. The ex-dividend date was December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.
Several brokerage firms have adjusted their price targets for Micron Technology. Needham & Company LLC lowered their price target from $140.00 to $120.00, maintaining a “buy” rating. Goldman Sachs Group reduced its target from $145.00 to $128.00, also setting a “buy” rating. Wedbush maintained an “outperform” rating with a $140.00 target price. UBS Group decreased its target from $135.00 to $125.00, and set a “buy” rating. JPMorgan Chase & Co. lowered their target from $180.00 to $145.00, with an “overweight” rating. The consensus rating for the stock is “Moderate Buy” with a consensus price target of $134.96.
Institutional investors have also been actively adjusting their positions in Micron Technology. Swedbank AB increased its holdings by 30.4% in the third quarter. Janney Montgomery Scott LLC increased its stake by 12.1% during the same period. Intact Investment Management Inc. increased its stake by 57.2%, and Asset Management One Co. Ltd. increased its stake by 1.2%. Institutional investors currently own 80.84% of the company’s stock.
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.
