Micron Technology, Inc. (MU) Short Interest Update
Micron Technology, Inc. (NASDAQ:MU) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 57,009,477 shares, an increase of 6.1% from the November 15th total of 53,733,091 shares. Based on an average daily volume of 37,278,565 shares, the days-to-cover ratio is presently 1.5 days. Currently, 5.2% of the company’s stock are short sold.
Micron Technology (NASDAQ:MU) opened at $42.40 on Friday. Micron Technology has a 12-month low of $20.19 and a 12-month high of $49.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. The firm has a market capitalization of $49,250.00, a PE ratio of 9.47, a PEG ratio of 0.57 and a beta of 1.75.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. The firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. sell-side analysts predict that Micron Technology will post 7.42 earnings per share for the current year.
Several equities research analysts recently commented on the company. MKM Partners lifted their price objective on Micron Technology from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub downgraded Micron Technology from a “buy” rating to a “hold” rating in a report on Thursday. Cowen set a $50.00 price objective on Micron Technology and gave the stock a “buy” rating in a report on Tuesday, December 5th. ValuEngine downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, Deutsche Bank reiterated a “buy” rating and issued a $55.00 price objective on shares of Micron Technology in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Micron Technology has an average rating of “Buy” and an average target price of $48.26.
In other news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $41.38, for a total transaction of $124,140.00. Following the completion of the transaction, the director now directly owns 116,699 shares in the company, valued at $4,829,004.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the transaction, the senior vice president now owns 289,940 shares of the company’s stock, valued at $11,046,714. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,588 shares of company stock valued at $10,480,038. 0.53% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Micron Technology by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,260 shares of the semiconductor manufacturer’s stock worth $2,307,000 after acquiring an additional 367 shares during the last quarter. Parallel Advisors LLC increased its stake in Micron Technology by 4.7% in the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock worth $232,000 after acquiring an additional 369 shares during the last quarter. Wesbanco Bank Inc. increased its stake in Micron Technology by 5.1% in the 2nd quarter. Wesbanco Bank Inc. now owns 9,278 shares of the semiconductor manufacturer’s stock worth $277,000 after acquiring an additional 450 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Micron Technology by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 134,094 shares of the semiconductor manufacturer’s stock worth $4,005,000 after acquiring an additional 469 shares during the last quarter. Finally, Vantage Financial Partners Ltd. Inc. bought a new stake in Micron Technology in the 2nd quarter worth approximately $500,000. 81.16% of the stock is currently owned by institutional investors.
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About Micron Technology
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