Micron Technology Insider Joel L. Poppen Sells 37,000 Shares (MU)
Micron Technology (NYSE:MU) Insider Joel L. Poppen sold 37,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.63, for a total transaction of $874,310.00. Following the completion of the transaction, the insider now directly owns 42,427 shares of the company’s stock, valued at approximately $1,002,550. The transaction 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 down 1.44% during mid-day trading on Wednesday, hitting $23.33. The stock had a trading volume of 26,952,060 shares. Micron Technology has a 52 week low of $7.54 and a 52 week high of $24.50. The stock’s 50-day moving average is $22.10 and its 200-day moving average is $17.33. The company has a market cap of $24.750 billion and a P/E ratio of 14.28.
Micron Technology (NYSE:MU) last posted its quarterly earnings results on Tuesday, January 7th. The company reported $0.30 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.27) earnings per share. Micron Technology’s revenue was up 120.4% compared to the same quarter last year. Analysts expect that Micron Technology will post $2.13 EPS for the current fiscal year.
A number of analysts have recently weighed in on MU shares. 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, January 10th. They set a “buy” rating and a $23.24 price target on the stock. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target 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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