Micron Technology, Inc. (MU) Short Interest Update
Micron Technology, Inc. (NASDAQ:MU) saw a large growth in short interest in September. As of September 29th, there was short interest totalling 55,329,745 shares, a growth of 8.6% from the September 15th total of 50,969,448 shares. Based on an average daily volume of 43,166,090 shares, the short-interest ratio is currently 1.3 days. Currently, 5.2% of the shares of the company are sold short.
Micron Technology (MU) opened at 41.61 on Thursday. The firm has a market cap of $46.15 billion, a PE ratio of 9.44 and a beta of 1.82. Micron Technology has a 12 month low of $16.17 and a 12 month high of $42.07. The stock’s 50 day moving average is $35.35 and its 200 day moving average is $30.96.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.18. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS. On average, equities analysts forecast that Micron Technology will post $7.55 earnings per share for the current year.
Several brokerages have commented on MU. UBS AG restated an “average” rating and set a $36.00 price objective (up from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. BMO Capital Markets began coverage on shares of Micron Technology in a research note on Monday, October 2nd. They set a “market perform” rating and a $43.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and set a $64.00 price objective on shares of Micron Technology in a research note on Wednesday. Nomura restated a “buy” rating and set a $45.00 price objective on shares of Micron Technology in a research note on Wednesday. Finally, Macquarie restated an “outperform” rating and set a $35.00 price objective on shares of Micron Technology in a research note on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $44.41.
In related news, insider Joel L. Poppen sold 80,000 shares of Micron Technology stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $38.61, for a total value of $3,088,800.00. Following the completion of the sale, the insider now directly owns 266,966 shares in the company, valued at approximately $10,307,557.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $39.86, for a total transaction of $119,580.00. Following the completion of the sale, the director now owns 114,284 shares of the company’s stock, valued at $4,555,360.24. The disclosure for this sale can be found here. Insiders sold a total of 287,465 shares of company stock valued at $10,620,575 over the last quarter. 0.69% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of MU. Captrust Financial Advisors acquired a new stake in Micron Technology in the 2nd quarter worth about $107,000. Guardian Life Insurance Co. of America boosted its stake in Micron Technology by 0.3% in the 1st quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in Micron Technology in the 2nd quarter worth about $141,000. Krilogy Financial LLC boosted its stake in Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after buying an additional 4,350 shares during the last quarter. Finally, MPS Loria Financial Planners LLC acquired a new stake in Micron Technology in the 2nd quarter worth about $142,000. 79.29% of the stock is currently owned by hedge funds and other institutional investors.
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About Micron Technology
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