Investors sold shares of Micron Technology, Inc. (NASDAQ:MU) on strength during trading on Monday following insider selling activity. $383.35 million flowed into the stock on the tick-up and $466.22 million flowed out of the stock on the tick-down, for a money net flow of $82.87 million out of the stock. Of all companies tracked, Micron Technology had the 20th highest net out-flow for the day. Micron Technology traded up $0.71 for the day and closed at $44.21Specifically, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $41.38, for a total value of $124,140.00. Following the transaction, the director now directly owns 116,699 shares in the company, valued at $4,829,004.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total transaction of $2,583,050.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,692 shares of company stock worth $7,473,967. 0.53% of the stock is owned by insiders.
Several analysts have recently commented on the stock. UBS Group raised their price objective on shares of Micron Technology from $75.00 to $85.00 in a research report on Wednesday, December 20th. Vetr upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 price objective on the stock in a research report on Wednesday, November 15th. Deutsche Bank restated a “buy” rating and set a $50.00 price objective on shares of Micron Technology in a research report on Tuesday, November 7th. Cowen restated a “buy” rating and set a $50.00 price objective on shares of Micron Technology in a research report on Wednesday, November 1st. Finally, Citigroup restated a “buy” rating on shares of Micron Technology in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Buy” and an average price target of $55.80.
The company has a market cap of $51,120.00, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 0.44 and a beta of 1.62. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33.
Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.60. The company 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%. Micron Technology’s quarterly revenue was up 71.4% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. research analysts anticipate that Micron Technology, Inc. will post 10.12 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SevenBridge Financial Group LLC grew its stake in shares of Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after buying an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after buying an additional 1,252 shares in the last quarter. Intrust Bank NA grew its stake in shares of Micron Technology by 9.0% in the 4th quarter. Intrust Bank NA now owns 15,287 shares of the semiconductor manufacturer’s stock worth $629,000 after buying an additional 1,264 shares in the last quarter. First Republic Investment Management Inc. grew its stake in shares of Micron Technology by 12.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 11,960 shares of the semiconductor manufacturer’s stock worth $470,000 after buying an additional 1,329 shares in the last quarter. Finally, Buffington Mohr McNeal grew its stake in shares of Micron Technology by 2.2% in the 3rd quarter. Buffington Mohr McNeal now owns 63,648 shares of the semiconductor manufacturer’s stock worth $2,600,000 after buying an additional 1,400 shares in the last quarter. 81.34% 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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