Insider Selling: Micron Technology VP Unloads 39,500 Shares of Stock (MU)
Micron Technology (NYSE:MU) VP Thomas T. Eby unloaded 39,500 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $32.48, for a total value of $1,282,960.00. Following the completion of the transaction, the vice president now directly owns 270,999 shares of the company’s stock, valued at approximately $8,802,048. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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, June 30th. 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 investment 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 stock currently has a consensus rating of “Buy” and an average price target of $34.15.
Shares of Micron Technology (NYSE:MU) traded down 0.36% on Thursday, hitting $32.77. The stock had a trading volume of 32,916,828 shares. 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 $30.89 and its 200-day moving average is $25.76. The company has a market cap of $35.091 billion and a P/E ratio of 10.85.
Micron Technology (NYSE:MU) last issued its quarterly earnings data on Monday, June 23rd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 71.8% on a year-over-year basis. Analysts expect that Micron Technology will post $3.21 EPS 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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