Micron Technology, Inc. (NASDAQ:MU) VP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the transaction, the vice president now directly owns 150,232 shares in the company, valued at approximately $4,807,424. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Micron Technology, Inc. (NASDAQ MU) traded down 2.29% during mid-day trading on Friday, reaching $29.86. 42,881,748 shares of the company’s stock were exchanged. The stock has a market cap of $33.03 billion, a price-to-earnings ratio of 46.51 and a beta of 1.77. Micron Technology, Inc. has a one year low of $11.50 and a one year high of $32.93. The stock has a 50-day moving average of $29.50 and a 200-day moving average of $25.49. Micron Technology also was the recipient of unusually large options trading on Thursday. Stock traders purchased 40,856 put options on the stock. This represents an increase of approximately 103% compared to the typical volume of 20,122 put options.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.06. Micron Technology had a return on equity of 7.73% and a net margin of 4.68%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the company earned $0.01 earnings per share. The firm’s revenue was up 58.4% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post $4.30 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale raised its position in shares of Micron Technology by 83.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 412,407 shares of the semiconductor manufacturer’s stock worth $12,040,000 after buying an additional 188,133 shares during the last quarter. Angelo Gordon & CO. L.P. raised its position in shares of Micron Technology by 69.0% in the fourth quarter. Angelo Gordon & CO. L.P. now owns 482,900 shares of the semiconductor manufacturer’s stock worth $10,585,000 after buying an additional 197,100 shares during the last quarter. CIBC World Markets Inc. raised its position in shares of Micron Technology by 2,661.9% in the first quarter. CIBC World Markets Inc. now owns 2,687,100 shares of the semiconductor manufacturer’s stock worth $77,657,000 after buying an additional 2,589,807 shares during the last quarter. Jafra Capital Management LP purchased a new position in shares of Micron Technology during the fourth quarter worth approximately $3,668,000. Finally, Mason Street Advisors LLC raised its position in shares of Micron Technology by 1.5% in the first quarter. Mason Street Advisors LLC now owns 143,248 shares of the semiconductor manufacturer’s stock worth $4,140,000 after buying an additional 2,078 shares during the last quarter. 79.77% of the stock is owned by institutional investors.
A number of research analysts have weighed in on the stock. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $35.00 price target (up previously from $31.00) on shares of Micron Technology in a research note on Monday, March 27th. Cowen and Company lifted their price objective on shares of Micron Technology from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, March 3rd. Vetr upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $28.56 price objective on the stock in a report on Wednesday, March 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $47.00 price objective on shares of Micron Technology in a report on Tuesday, June 6th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $32.50 price objective (down from $35.00) on shares of Micron Technology in a report on Thursday, March 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $32.29.
About Micron Technology
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