Insider Selling: Michael W. Sadler Unloads 133,000 Shares of Micron Technology Stock (MU)
Micron Technology (NYSE:MU) VP Michael W. Sadler unloaded 133,000 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $26.23, for a total transaction of $3,488,590.00. Following the transaction, the vice president now directly owns 271,064 shares of the company’s stock, valued at approximately $7,110,009. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Micron Technology (NYSE:MU) traded up 0.27% during mid-day trading on Wednesday, hitting $26.25. The stock had a trading volume of 32,495,670 shares. Micron Technology has a 52 week low of $9.07 and a 52 week high of $26.28. The stock has a 50-day moving average of $23.59 and a 200-day moving average of $21.82. The company has a market cap of $28.097 billion and a P/E ratio of 10.57.
Micron Technology (NYSE:MU) last issued its quarterly earnings data on Thursday, April 3rd. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $0.11. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter last year, the company posted ($0.28) earnings per share. Micron Technology’s revenue was up 97.6% compared to the same quarter last year. On average, analysts predict that Micron Technology will post $3.02 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC reiterated a “positive” rating on shares of Micron Technology in a research note on Tuesday. Separately, analysts at Drexel Hamilton raised their price target on shares of Micron Technology from $20.00 to $50.00 in a research note on Monday. They now have a “buy” rating on the stock. Finally, analysts at ISI Group initiated coverage on shares of Micron Technology in a research note on Thursday, April 10th. They set a “strong-buy” rating and a $30.00 price target on the stock. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $25.70.
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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