Insider Selling: Micron Technology CFO Sells 20,000 Shares of Stock (MU)
Micron Technology (NYSE:MU) CFO Ronald C. Foster sold 20,000 shares of the stock on the open market in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $29.26, for a total transaction of $585,200.00. Following the completion of the sale, the chief financial officer now directly owns 662,816 shares in the company, valued at approximately $19,393,996. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Micron Technology (NYSE:MU) traded down 0.44% on Thursday, hitting $30.855. The stock had a trading volume of 28,139,530 shares. Micron Technology has a 1-year low of $12.31 and a 1-year high of $31.60. The stock has a 50-day moving average of $27.30 and a 200-day moving average of $24.2. The company has a market cap of $33.027 billion and a price-to-earnings ratio of 12.52. Micron Technology also was the recipient of unusually large options trading on Wednesday. Stock investors bought 107,324 call options on the stock. This is an increase of 165% compared to the typical volume of 40,496 call options.
Micron Technology (NYSE:MU) last announced its earnings results on Thursday, April 3rd. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.28) earnings per share. The company’s quarterly revenue was up 97.6% on a year-over-year basis. On average, analysts predict that Micron Technology will post $3.02 earnings per share for the current fiscal year.
MU has been the subject of a number of recent research reports. Analysts at Nomura raised their price target on shares of Micron Technology from $30.00 to $40.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Bank of America upgraded shares of Micron Technology from an “underperform” rating to a “buy” rating in a research note on Wednesday. They now have a $40.00 price target on the stock, up previously from $22.00. Finally, analysts at Credit Suisse raised their price target on shares of Micron Technology from $30.00 to $50.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.76.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.