Micron Technology VP Unloads 68,750 Shares (MU)
Micron Technology (NYSE:MU) VP Steven L. Thorsen, Jr. sold 68,750 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $30.38, for a total value of $2,088,625.00. Following the sale, the vice president now directly owns 246,474 shares of the company’s stock, valued at approximately $7,487,880. The sale was disclosed in a document filed 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 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $33.40.
Shares of Micron Technology (NYSE:MU) traded up 2.21% on Wednesday, hitting $31.38. The stock had a trading volume of 17,831,620 shares. Micron Technology has a 1-year low of $13.05 and a 1-year high of $34.85. The stock’s 50-day moving average is $32.46 and its 200-day moving average is $27.36. The company has a market cap of $33.602 billion and a price-to-earnings ratio of 10.13.
Micron Technology (NYSE:MU) last released its earnings data 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. 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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