Investors Sell Shares of Micron Technology (MU) on Strength on Insider Selling

Investors sold shares of Micron Technology, Inc. (NASDAQ:MU) on strength during trading on Tuesday after an insider sold shares in the company. $480.99 million flowed into the stock on the tick-up and $505.33 million flowed out of the stock on the tick-down, for a money net flow of $24.34 million out of the stock. Of all equities tracked, Micron Technology had the 0th highest net out-flow for the day. Micron Technology traded up $1.31 for the day and closed at $41.21Specifically, insider Joel L. Poppen sold 80,000 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the completion of the transaction, the insider now directly owns 266,966 shares in the company, valued at $10,307,557.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $41.38, for a total transaction of $124,140.00. Following the transaction, the director now owns 116,699 shares of the company’s stock, valued at $4,829,004.62. The disclosure for this sale can be found here. Insiders have sold 308,088 shares of company stock worth $11,852,538 over the last three months. 0.69% of the stock is currently owned by insiders.

MU has been the subject of a number of research analyst reports. Citigroup restated a “buy” rating and set a $45.00 price objective on shares of Micron Technology in a research report on Monday, August 14th. Cowen reiterated a “buy” rating on shares of Micron Technology in a research report on Thursday, August 10th. BidaskClub upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Mizuho reiterated a “buy” rating and issued a $38.00 target price on shares of Micron Technology in a research report on Wednesday, August 16th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $37.00 target price on shares of Micron Technology in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $48.20.

The firm has a market cap of $47,880.00, a PE ratio of 9.46, a PEG ratio of 0.57 and a beta of 1.75. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same period last year, the business earned ($0.01) earnings per share. Micron Technology’s revenue was up 90.8% compared to the same quarter last year. sell-side analysts predict that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its stake in Micron Technology by 386.6% during the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after buying an additional 31,616,346 shares during the period. Janus Henderson Group PLC boosted its stake in Micron Technology by 292.8% during the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after buying an additional 8,834,274 shares during the period. BT Investment Management Ltd purchased a new position in Micron Technology during the second quarter worth about $95,449,000. Greenlight Capital Inc. boosted its stake in Micron Technology by 89.5% during the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock worth $197,511,000 after buying an additional 2,371,900 shares during the period. Finally, Pioneer Investment Management Inc. boosted its stake in Micron Technology by 298.4% during the second quarter. Pioneer Investment Management Inc. now owns 2,590,309 shares of the semiconductor manufacturer’s stock worth $77,347,000 after buying an additional 1,940,212 shares during the period. Hedge funds and other institutional investors own 81.16% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Investors Sell Shares of Micron Technology (MU) on Strength on Insider Selling” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2017/12/06/investors-sell-shares-of-micron-technology-mu-on-strength-on-insider-selling.html.

Micron Technology Company Profile

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply