Micron Technology VP Unloads $3,478,050 in Stock (MU)
Micron Technology (NYSE:MU) VP Brian Shirley sold 147,500 shares of Micron Technology stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $23.58, for a total transaction of $3,478,050.00. Following the sale, the vice president now directly owns 393,581 shares in the company, valued at approximately $9,280,640. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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 analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.87.
Micron Technology (NYSE:MU) traded down 1.44% on Wednesday, hitting $23.33. 26,954,588 shares of the company’s stock traded hands. Micron Technology has a one year low of $7.54 and a one year 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 released its earnings data on Tuesday, January 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($0.27) earnings per share. The company’s revenue for the quarter was up 120.4% on a year-over-year basis. On average, analysts predict that Micron Technology will post $2.13 earnings per share for the current fiscal year.
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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