Micron Technology VP Sells 64,750 Shares (MU)
Micron Technology (NYSE:MU) VP Brian Shirley sold 64,750 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $34.06, for a total value of $2,205,385.00. Following the completion of the sale, the vice president now directly owns 393,581 shares in the company, valued at approximately $13,405,369. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Micron Technology (NYSE:MU) traded down 0.09% on Thursday, hitting $33.73. 13,883,943 shares of the company’s stock traded hands. Micron Technology has a 1-year low of $12.31 and a 1-year high of $34.50. The stock’s 50-day moving average is $29.77 and its 200-day moving average is $25.36. The company has a market cap of $35.990 billion and a price-to-earnings ratio of 11.15.
Micron Technology (NYSE:MU) last announced its earnings results on Monday, June 23rd. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.69 by $0.10. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 71.8% on a year-over-year basis. On average, analysts predict that Micron Technology will post $3.21 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on MU shares. Analysts at Credit Suisse upgraded shares of Micron Technology to a “focus list” rating in a research note on Monday. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Micron Technology in a research note on Wednesday, June 25th. They now have a $39.00 price target on the stock. Finally, analysts at Macquarie reiterated a “neutral” rating on shares of Micron Technology in a research note on Wednesday, June 25th. They now have a $35.00 price target on the stock, up previously from $28.00. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $34.15.
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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