Insider Selling: Micron Technology Director Sells 4,000 Shares of Stock (MU)
Micron Technology (NYSE:MU) Director Robert Bailey sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.59, for a total value of $70,360.00. Following the completion of the transaction, the director now directly owns 137,751 shares in the company, valued at approximately $2,423,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Micron Technology (NYSE:MU) traded up 1.79% on Monday, hitting $17.89. 37,802,792 shares of the company’s stock traded hands. Micron Technology has a 1-year low of $5.33 and a 1-year high of $18.85. The stock has a 50-day moving average of $17.29 and a 200-day moving average of $13.91. The company has a market cap of $18.818 billion and a price-to-earnings ratio of 15.55.
Micron Technology (NYSE:MU) last released its earnings data on Thursday, October 10th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $1.27. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. Analysts expect that Micron Technology will post $2.04 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, October 29th. Separately, analysts at Drexel Hamilton initiated coverage on shares of Micron Technology in a research note to investors on Monday, October 21st. They set a “buy” rating and a $24.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.60.
Micron Technology, Inc, is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.
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