Micron Technology, Inc. (NASDAQ:MU) SVP April S. Arnzen sold 532 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $59.80, for a total transaction of $31,813.60. Following the completion of the sale, the senior vice president now owns 57,437 shares in the company, valued at $3,434,732.60. The sale was disclosed in a document filed with the SEC, which is available at this link.
MU stock opened at $61.15 on Wednesday. Micron Technology, Inc. has a 52-week low of $25.43 and a 52-week high of $63.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The stock has a market cap of $69,540.79, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.58 and a beta of 1.46.
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, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same period last year, the firm posted $0.32 EPS. Micron Technology’s revenue for the quarter was up 71.4% on a year-over-year basis. equities analysts anticipate that Micron Technology, Inc. will post 10.41 earnings per share for the current fiscal year.
A number of research analysts recently commented on the stock. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $61.52 target price on the stock in a research report on Monday. Credit Suisse Group increased their target price on shares of Micron Technology from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Nomura increased their target price on shares of Micron Technology and gave the company a “buy” rating in a research report on Monday, March 12th. Finally, Evercore ISI increased their target price on shares of Micron Technology from $60.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, March 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $59.52.
A number of institutional investors have recently modified their holdings of MU. SevenBridge Financial Group LLC grew its position in Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after purchasing an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. grew its position in Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after purchasing an additional 1,252 shares during the last quarter. Girard Partners LTD. purchased a new position in Micron Technology during the 4th quarter worth $207,000. Lourd Capital LLC purchased a new position in Micron Technology during the 4th quarter worth $211,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $211,000. 82.47% of the stock is currently owned by institutional investors.
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Micron Technology Company Profile
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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