Micron Technology, Inc. (NASDAQ:MU) SVP Joel L. Poppen Sells 4,985 Shares of Stock


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Micron Technology, Inc. (NASDAQ:MU) SVP Joel L. Poppen sold 4,985 shares of Micron Technology stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $78.66, for a total transaction of $392,120.10. Following the completion of the sale, the senior vice president now owns 301,918 shares of the company’s stock, valued at approximately $23,748,869.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NASDAQ MU opened at $79.91 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.86 and a current ratio of 2.71. The firm has a market cap of $89.39 billion, a PE ratio of 33.72, a P/E/G ratio of 1.83 and a beta of 1.37. Micron Technology, Inc. has a one year low of $31.13 and a one year high of $84.16. The firm’s fifty day moving average is $71.97 and its two-hundred day moving average is $55.72.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, January 6th. The semiconductor manufacturer reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. Micron Technology had a net margin of 12.54% and a return on equity of 7.73%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the business posted $0.48 earnings per share. Micron Technology’s quarterly revenue was up 12.2% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 3.12 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Kistler Tiffany Companies LLC increased its stake in shares of Micron Technology by 120.0% during the third quarter. Kistler Tiffany Companies LLC now owns 550 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 300 shares during the period. Eudaimonia Partners LLC grew its position in Micron Technology by 35.5% during the third quarter. Eudaimonia Partners LLC now owns 573 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 150 shares during the period. RMR Wealth Builders acquired a new position in Micron Technology during the second quarter worth about $31,000. Dimension Capital Management LLC acquired a new position in Micron Technology during the third quarter worth about $32,000. Finally, Mine & Arao Wealth Creation & Management LLC. acquired a new position in Micron Technology during the third quarter worth about $33,000. Institutional investors and hedge funds own 71.31% of the company’s stock.

Several research firms recently weighed in on MU. Wedbush lifted their target price on shares of Micron Technology from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Friday, January 8th. They noted that the move was a valuation call. Royal Bank of Canada raised their price target on shares of Micron Technology from $57.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday, January 5th. Mizuho raised their price target on shares of Micron Technology from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, January 8th. Zacks Investment Research raised shares of Micron Technology from a “sell” rating to a “hold” rating and set a $67.00 price target for the company in a research report on Tuesday, December 1st. Finally, Longbow Research raised their price target on shares of Micron Technology from $83.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $84.19.

About Micron Technology

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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