Insider Selling: Ronald C. Foster Unloads 215,000 Shares of Micron Technology Stock (MU)
Micron Technology (NYSE:MU) CFO Ronald C. Foster sold 215,000 shares of Micron Technology stock on the open market in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $23.59, for a total value of $5,071,850.00. Following the completion of the sale, the chief financial officer now directly owns 682,816 shares in the company, valued at approximately $16,107,629. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Micron Technology (NYSE:MU) traded down 1.60% during mid-day trading on Monday, hitting $23.33. The stock had a trading volume of 27,718,456 shares. Micron Technology has a 52 week low of $7.43 and a 52 week high of $24.50. The stock has a 50-day moving average of $21.99 and a 200-day moving average of $17.2. The company has a market cap of $24.750 billion and a price-to-earnings ratio of 14.31.
Micron Technology (NYSE:MU) last issued its quarterly earnings data on Tuesday, January 7th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.44 by $0.14. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company posted ($0.27) earnings per share. The company’s quarterly revenue was up 120.4% on a year-over-year basis. Analysts expect that Micron Technology will post $2.13 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Micron Technology from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $26.10 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Micron Technology in a research note to investors on Monday. Finally, analysts at Sterne Agee initiated coverage on shares of Micron Technology in a research note to investors on Friday. They set a “buy” rating and a $23.24 price target on the stock. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $22.87.
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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