Traders Sell Shares of Micron Technology (MU) on Strength (MU)
Traders sold shares of Micron Technology, Inc. (NASDAQ:MU) on strength during trading hours on Monday. $1,975.09 million flowed into the stock on the tick-up and $2,016.44 million flowed out of the stock on the tick-down, for a money net flow of $41.35 million out of the stock. Of all stocks tracked, Micron Technology had the 0th highest net out-flow for the day. Micron Technology traded up $4.78 for the day and closed at $59.37
Several equities research analysts recently commented on MU shares. UBS Group upped their target price on Micron Technology from $75.00 to $85.00 in a research report on Wednesday, December 20th. Vetr lowered Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price on the stock. in a research report on Friday, November 17th. Morgan Stanley upped their target price on Micron Technology from $39.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, November 27th. ValuEngine lowered Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Goldman Sachs Group set a $55.00 target price on Micron Technology and gave the company a “buy” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $57.86.
The firm has a market cap of $68,650.42, a P/E ratio of 9.36, a P/E/G ratio of 0.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83.
In related news, SVP April S. Arnzen sold 1,222 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $43.77, for a total transaction of $53,486.94. Following the completion of the sale, the senior vice president now directly owns 57,969 shares of the company’s stock, valued at $2,537,303.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 27,878 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $44.27, for a total value of $1,234,159.06. Following the sale, the senior vice president now directly owns 58,659 shares of the company’s stock, valued at $2,596,833.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,692 shares of company stock valued at $7,493,827. Company insiders own 0.53% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MU. SevenBridge Financial Group LLC increased its position in shares of Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after acquiring an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. increased its position in shares of Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after acquiring an additional 1,252 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Micron Technology during the third quarter valued at approximately $204,000. Girard Partners LTD. purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $207,000. Finally, Lourd Capital LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $211,000. 82.51% of the stock is owned by institutional investors.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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