Insider Selling: Micron Technology, Inc. (MU) Director Sells $765,500.00 in Stock
Micron Technology, Inc. (NASDAQ:MU) Director Lawrence N. Mondry sold 25,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $30.62, for a total value of $765,500.00. Following the sale, the director now directly owns 177,367 shares in the company, valued at approximately $5,430,977.54. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Micron Technology, Inc. (NASDAQ MU) opened at 30.38 on Monday. Micron Technology, Inc. has a one year low of $15.38 and a one year high of $32.96. The stock has a market capitalization of $33.72 billion, a PE ratio of 13.34 and a beta of 1.76. The stock has a 50 day moving average of $29.95 and a 200-day moving average of $28.20.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 92.2% on a year-over-year basis. Equities analysts predict that Micron Technology, Inc. will post $4.71 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of MU. Captrust Financial Advisors acquired a new position in Micron Technology during the second quarter valued at approximately $107,000. Guardian Life Insurance Co. of America raised its position 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 valued at $116,000 after buying an additional 13 shares during the period. First Personal Financial Services raised its position 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 valued at $122,000 after buying an additional 2,083 shares during the period. Washington Trust Bank raised its position in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $126,000 after buying an additional 63 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new position in Micron Technology during the second quarter valued at approximately $141,000. 80.36% of the stock is owned by institutional investors and hedge funds.
Several brokerages have issued reports on MU. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday. Mizuho reaffirmed a “buy” rating and set a $38.00 target price on shares of Micron Technology in a research report on Wednesday, August 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 target price on shares of Micron Technology in a research report on Monday, August 14th. Citigroup Inc. reaffirmed a “buy” rating and set a $45.00 target price on shares of Micron Technology in a research report on Monday, August 14th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Micron Technology in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $35.65.
Micron Technology Company Profile
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