Micron Technology, Inc. (MU) EVP Sells $340,000.00 in Stock
Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the transaction, the executive vice president now directly owns 140,232 shares of the company’s stock, valued at $4,767,888. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Micron Technology, Inc. (NASDAQ:MU) traded up 0.87% on Wednesday, reaching $34.59. The company had a trading volume of 41,440,519 shares. Micron Technology, Inc. has a 12 month low of $16.17 and a 12 month high of $34.80. The company has a market capitalization of $38.39 billion, a price-to-earnings ratio of 15.19 and a beta of 1.75. The stock has a 50 day moving average price of $30.23 and a 200-day moving average price of $29.16.
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 business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The business’s revenue was up 92.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS. Analysts forecast that Micron Technology, Inc. will post $4.72 EPS for the current fiscal year.
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Several research firms have weighed in on MU. UBS AG reaffirmed an “average” rating and issued a $36.00 target price (up from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Macquarie reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Micron Technology in a research report on Tuesday. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. KeyCorp reaffirmed a “hold” rating on shares of Micron Technology in a research report on Tuesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 target price on shares of Micron Technology in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $36.27.
A number of institutional investors have recently made changes to their positions in the business. Achmea Investment Management B.V. raised its stake in Micron Technology by 59.0% during the 2nd quarter. Achmea Investment Management B.V. now owns 51,145 shares of the semiconductor manufacturer’s stock valued at $1,525,000 after acquiring an additional 18,973 shares in the last quarter. Navellier & Associates Inc raised its stake in Micron Technology by 83.0% during the 2nd quarter. Navellier & Associates Inc now owns 340,780 shares of the semiconductor manufacturer’s stock valued at $10,176,000 after acquiring an additional 154,513 shares in the last quarter. WFG Advisors LP raised its stake in Micron Technology by 25.3% during the 2nd quarter. WFG Advisors LP now owns 11,650 shares of the semiconductor manufacturer’s stock valued at $348,000 after acquiring an additional 2,350 shares in the last quarter. Toronto Dominion Bank raised its stake in Micron Technology by 25.9% during the 2nd quarter. Toronto Dominion Bank now owns 352,381 shares of the semiconductor manufacturer’s stock valued at $10,520,000 after acquiring an additional 72,601 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in Micron Technology during the 2nd quarter valued at $874,000. 79.34% of the stock is currently owned by hedge funds and other institutional investors.
About Micron Technology
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