Micron Technology, Inc. (NASDAQ:MU) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 47,400,533 shares, a decline of 8.6% from the June 15th total of 51,845,881 shares. Based on an average daily volume of 37,836,241 shares, the short-interest ratio is presently 1.3 days. Approximately 4.5% of the company’s shares are short sold.

In related news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $29.35, for a total transaction of $88,050.00. Following the transaction, the director now directly owns 124,384 shares of the company’s stock, valued at approximately $3,650,670.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $27.85, for a total value of $27,850.00. Following the transaction, the vice president now directly owns 53,542 shares in the company, valued at $1,491,144.70. The disclosure for this sale can be found here. Insiders sold a total of 70,492 shares of company stock worth $2,109,749 over the last ninety days. Corporate insiders own 0.69% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Wynnefield Capital Inc. bought a new stake in Micron Technology during the first quarter worth $13,519,000. Guardian Life Insurance Co. of America increased its stake in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares during the last quarter. First Personal Financial Services increased its stake in Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares during the last quarter. Washington Trust Bank increased its stake in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares during the last quarter. Finally, Coconut Grove Bank increased its stake in Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock worth $156,000 after buying an additional 5,050 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Several equities analysts recently commented on the company. Robert W. Baird reissued an “outperform” rating and set a $40.00 price target on shares of Micron Technology in a research report on Monday, June 19th. Cowen and Company boosted their price target on Micron Technology from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, June 26th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $35.00 price target (up from $31.00) on shares of Micron Technology in a research report on Monday, March 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $33.00 target price (up from $30.00) on shares of Micron Technology in a research report on Friday, June 30th. Finally, Mizuho upped their target price on Micron Technology from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.65.

Micron Technology (NASDAQ MU) opened at 31.82 on Thursday. The firm has a market capitalization of $35.32 billion, a price-to-earnings ratio of 13.97 and a beta of 1.78. The company’s 50-day moving average price is $31.21 and its 200 day moving average price is $27.22. Micron Technology has a 52-week low of $13.02 and a 52-week high of $32.96.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.25. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The company’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. Equities analysts predict that Micron Technology will post $4.71 earnings per share for the current fiscal year.

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Micron Technology Company Profile

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