Micron Technology, Inc. (NASDAQ:MU) Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.86, for a total value of $119,580.00. Following the transaction, the director now owns 114,284 shares of the company’s stock, valued at $4,555,360.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Micron Technology, Inc. (NASDAQ:MU) traded down 2.01% during mid-day trading on Wednesday, reaching $39.56. The company’s stock had a trading volume of 37,908,412 shares. The firm has a market capitalization of $43.91 billion, a P/E ratio of 17.37 and a beta of 1.82. Micron Technology, Inc. has a 52 week low of $16.17 and a 52 week high of $40.54. The firm’s 50 day moving average price is $33.55 and its 200 day moving average price is $30.38.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same period last year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. On average, analysts anticipate that Micron Technology, Inc. will post $7.55 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/10/04/micron-technology-inc-mu-director-sells-119580-00-in-stock.html.

Several hedge funds have recently modified their holdings of MU. Capital Research Global Investors increased its position in shares of Micron Technology by 386.6% during the 2nd quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after purchasing an additional 31,616,346 shares during the period. Janus Henderson Group PLC increased its position in shares of Micron Technology by 292.8% during the 2nd quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after purchasing an additional 8,834,274 shares during the period. Vanguard Group Inc. increased its position in shares of Micron Technology by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock valued at $2,489,492,000 after purchasing an additional 4,004,759 shares during the period. Janus Capital Management LLC increased its position in shares of Micron Technology by 232.4% during the 1st quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock valued at $161,085,000 after purchasing an additional 3,896,978 shares during the period. Finally, Westpac Banking Corp increased its position in shares of Micron Technology by 790.9% during the 1st quarter. Westpac Banking Corp now owns 3,656,771 shares of the semiconductor manufacturer’s stock valued at $113,251,000 after purchasing an additional 3,246,321 shares during the period. Institutional investors own 79.32% of the company’s stock.

A number of brokerages recently commented on MU. UBS AG restated an “average” rating and set a $36.00 target price (up from $32.00) on shares of Micron Technology in a report on Friday, June 30th. Cowen and Company reiterated an “outperform” rating and issued a $43.00 price objective (up previously from $40.00) on shares of Micron Technology in a research note on Wednesday, September 27th. BMO Capital Markets began coverage on Micron Technology in a research note on Monday. They issued a “market perform” rating and a $43.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price objective (up previously from $62.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Finally, Mizuho reiterated a “buy” rating and issued a $40.00 price objective (up previously from $38.00) on shares of Micron Technology in a research note on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.30.

About Micron Technology

Insider Buying and Selling by Quarter for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.