Insider Selling: Micron Technology CFO Sells 20,000 Shares of Stock (MU)
Micron Technology (NYSE:MU) CFO Ronald C. Foster unloaded 20,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $30.68, for a total value of $613,600.00. Following the transaction, the chief financial officer now directly owns 662,816 shares of the company’s stock, valued at approximately $20,335,195. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Micron Technology (NYSE:MU) traded up 2.21% on Wednesday, hitting $31.38. The stock had a trading volume of 17,832,880 shares. Micron Technology has a 52 week low of $13.05 and a 52 week high of $34.85. The stock has a 50-day moving average of $32.43 and a 200-day moving average of $27.3. The company has a market cap of $33.602 billion and a P/E ratio of 10.13.
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. 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 Zacks reiterated an “outperform” rating on shares of Micron Technology in a research note on Friday, August 8th. They now have a $36.00 price target on the stock. Separately, analysts at Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a research note on Thursday, July 17th. Finally, analysts at Credit Suisse upgraded shares of Micron Technology to a “focus list” rating in a research note on Monday, June 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $33.40.
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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