Insider Selling: Micron Technology, Inc. (MU) EVP Sells $520,372.00 in Stock
Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer sold 13,694 shares of Micron Technology stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $38.00, for a total value of $520,372.00. Following the sale, the executive vice president now directly owns 153,926 shares of the company’s stock, valued at $5,849,188. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Micron Technology, Inc. (MU) opened at 39.56 on Thursday. The firm’s 50-day moving average price is $33.83 and its 200 day moving average price is $30.45. The stock has a market cap of $43.91 billion, a P/E ratio of 17.37 and a beta of 1.82. Micron Technology, Inc. has a 1-year low of $16.17 and a 1-year high of $40.54.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post $7.55 earnings per share for the current fiscal year.
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A number of research analysts have recently issued reports on MU shares. Instinet reiterated a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Micron Technology in a report on Monday. BMO Capital Markets started coverage on Micron Technology in a report on Monday. They issued a “market perform” rating and a $43.00 price target on the stock. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $43.00 price target on shares of Micron Technology in a report on Saturday, September 30th. Nomura lifted their price target on Micron Technology from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, September 29th. Finally, MKM Partners reiterated a “buy” rating and issued a $52.00 price target (up from $45.00) on shares of Micron Technology in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $44.41.
Hedge funds have recently modified their holdings of the business. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Micron Technology during the second quarter worth about $500,000. IHT Wealth Management LLC purchased a new position in shares of Micron Technology during the second quarter worth about $1,056,000. Wynnefield Capital Inc. purchased a new position in shares of Micron Technology during the first quarter worth about $13,519,000. Captrust Financial Advisors purchased a new position in shares of Micron Technology during the second quarter worth about $107,000. Finally, Guardian Life Insurance Co. of America grew its holdings in shares of Micron Technology by 0.3% during the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after purchasing an additional 13 shares during the last quarter. 79.32% of the stock is currently owned by institutional investors.
About Micron Technology
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