Insider Selling: Micron Technology Director Sells 2,000 Shares of Stock (MU)
Micron Technology (NYSE:MU) Director Robert L. Bailey unloaded 2,000 shares of the stock on the open market in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $31.91, for a total transaction of $63,820.00. Following the completion of the sale, the director now directly owns 121,751 shares in the company, valued at approximately $3,885,074. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
MU has been the subject of a number of recent research reports. Analysts at Jefferies Group raised their price target on shares of Micron Technology from $38.00 to $40.00 in a research note on Friday, August 29th. They now have a “buy” rating on the stock. Separately, 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. Finally, analysts at Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $33.48.
Micron Technology (NYSE:MU) traded up 0.54% on Wednesday, hitting $31.68. The stock had a trading volume of 23,928,180 shares. Micron Technology has a 52-week low of $14.94 and a 52-week high of $34.85. The stock’s 50-day moving average is $32.20 and its 200-day moving average is $28.. The company has a market cap of $33.924 billion and a P/E ratio of 10.40.
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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