Insider Selling: Micron Technology, Inc. (MU) Director Sells 3,000 Shares of Stock
Micron Technology, Inc. (NASDAQ:MU) Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $41.38, for a total transaction of $124,140.00. Following the completion of the sale, the director now directly owns 116,699 shares of the company’s stock, valued at $4,829,004.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Micron Technology, Inc. (NASDAQ MU) traded up $1.31 during midday trading on Tuesday, reaching $41.21. 56,507,975 shares of the company traded hands, compared to its average volume of 29,805,135. The stock has a market capitalization of $47,880.00, a PE ratio of 9.46, a P/E/G ratio of 0.57 and a beta of 1.75. Micron Technology, Inc. has a 52-week low of $18.58 and a 52-week high of $49.89. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 25.04% and a return on equity of 32.09%. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. equities research analysts predict that Micron Technology, Inc. will post 7.42 earnings per share for the current year.
A number of equities research analysts have recently commented on the stock. Cowen set a $50.00 target price on shares of Micron Technology and gave the company a “buy” rating in a report on Tuesday. MKM Partners reaffirmed a “buy” rating on shares of Micron Technology in a report on Monday. ValuEngine cut shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Friday. Deutsche Bank reaffirmed a “buy” rating and issued a $55.00 target price on shares of Micron Technology in a report on Thursday, November 30th. Finally, Vetr raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $52.11 target price for the company in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.20.
About Micron Technology
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