Micron Technology Director Robert L. Bailey Sells 2,000 Shares (MU)
Micron Technology (NYSE:MU) Director Robert L. Bailey sold 2,000 shares of Micron Technology stock on the open market in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $28.50, for a total transaction of $57,000.00. Following the completion of the transaction, the director now directly owns 127,751 shares of the company’s stock, valued at approximately $3,640,904. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Micron Technology (NYSE:MU) traded up 0.03% during mid-day trading on Tuesday, hitting $28.67. 14,008,799 shares of the company’s stock traded hands. Micron Technology has a 52-week low of $11.65 and a 52-week high of $29.03. The stock has a 50-day moving average of $26.26 and a 200-day moving average of $23.7. The company has a market cap of $30.688 billion and a P/E ratio of 11.58.
Micron Technology (NYSE:MU) last announced its earnings results 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.
A number of analysts have recently weighed in on MU shares. Analysts at ING Group upgraded shares of Micron Technology from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 19th. Separately, analysts at RBC Capital upgraded shares of Micron Technology from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 19th. They now have a $34.00 price target on the stock, up previously from $27.00. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of Micron Technology in a research note on Friday, May 16th. They now have a $32.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.72.
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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