Traders Buy Micron Technology (MU) on Weakness

Investors purchased shares of Micron Technology, Inc. (NASDAQ:MU) on weakness during trading on Thursday. $378.85 million flowed into the stock on the tick-up and $320.24 million flowed out of the stock on the tick-down, for a money net flow of $58.61 million into the stock. Of all stocks tracked, Micron Technology had the 3rd highest net in-flow for the day. Micron Technology traded down ($0.49) for the day and closed at $42.82

A number of equities analysts recently weighed in on MU shares. Vetr downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price for the company. in a research note on Friday, November 17th. Morgan Stanley lifted their target price on shares of Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. ValuEngine downgraded shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Deutsche Bank reissued a “buy” rating and set a $50.00 target price on shares of Micron Technology in a research note on Tuesday, November 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Micron Technology has an average rating of “Buy” and an average target price of $55.33.

The firm has a market capitalization of $49,510.00, a price-to-earnings ratio of 6.74, a PEG ratio of 0.47 and a beta of 1.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.60. The firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The business’s revenue was up 71.4% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. equities research analysts predict that Micron Technology, Inc. will post 9.78 earnings per share for the current fiscal year.

In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of Micron Technology stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $42.40, for a total transaction of $2,583,050.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total transaction of $133,650.00. Following the transaction, the director now owns 117,299 shares of the company’s stock, valued at $5,225,670.45. The disclosure for this sale can be found here. Insiders have sold 188,720 shares of company stock valued at $8,046,240 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its holdings 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 purchasing an additional 31,616,346 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Micron Technology by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after purchasing an additional 74,670 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Micron Technology by 2.3% during the third quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock worth $476,863,000 after purchasing an additional 274,086 shares during the last quarter. CI Investments Inc. boosted its holdings in Micron Technology by 0.5% during the third quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock worth $297,740,000 after purchasing an additional 35,300 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Micron Technology by 1.7% during the third quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock worth $221,856,000 after purchasing an additional 94,517 shares during the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.

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Micron Technology Company Profile

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