Micron Technology, Inc. (NASDAQ:MU) Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $42.73, for a total value of $128,190.00. Following the transaction, the director now owns 113,585 shares of the company’s stock, valued at $4,853,487.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Micron Technology, Inc. (NASDAQ MU) traded up $1.90 during midday trading on Thursday, hitting $46.88. The stock had a trading volume of 52,230,000 shares, compared to its average volume of 43,390,000. Micron Technology, Inc. has a 12 month low of $21.49 and a 12 month high of $49.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The company has a market cap of $54,250.00, a price-to-earnings ratio of 7.38, a PEG ratio of 0.45 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the previous year, the company posted $0.32 EPS. Micron Technology’s revenue for the quarter was up 71.4% on a year-over-year basis. sell-side analysts anticipate that Micron Technology, Inc. will post 9.78 earnings per share for the current year.

A number of research firms have recently issued reports on MU. Zacks Investment Research cut Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. Morgan Stanley upped their price objective on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. Robert W. Baird reiterated an “outperform” rating and issued a $60.00 price objective (up from $52.00) on shares of Micron Technology in a report on Tuesday, November 28th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price objective for the company in a report on Tuesday, November 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of Micron Technology in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $55.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MU. Prudential Financial Inc. raised its position in Micron Technology by 17.1% during the 3rd quarter. Prudential Financial Inc. now owns 1,775,481 shares of the semiconductor manufacturer’s stock valued at $69,830,000 after purchasing an additional 259,557 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Micron Technology by 1.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,383,098 shares of the semiconductor manufacturer’s stock valued at $133,057,000 after purchasing an additional 51,527 shares during the last quarter. Shelton Capital Management raised its position in Micron Technology by 104.0% during the 3rd quarter. Shelton Capital Management now owns 188,499 shares of the semiconductor manufacturer’s stock valued at $7,414,000 after purchasing an additional 96,100 shares during the last quarter. Rubric Capital Management LP raised its position in Micron Technology by 130.8% during the 3rd quarter. Rubric Capital Management LP now owns 600,000 shares of the semiconductor manufacturer’s stock valued at $23,598,000 after purchasing an additional 340,000 shares during the last quarter. Finally, Greenlight Capital Inc. raised its position in Micron Technology by 89.5% during the 3rd quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after purchasing an additional 2,371,900 shares during the last quarter. 80.82% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Micron Technology, Inc. (MU) Director Sells $128,190.00 in Stock” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/04/micron-technology-inc-mu-director-sells-128190-00-in-stock.html.

About Micron Technology

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

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