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.
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Micron Technology Company Profile
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