Micron Technology (MU) Shares Gap Up to $46.88

Micron Technology, Inc. (NASDAQ:MU) gapped up prior to trading on Thursday . The stock had previously closed at $47.77, but opened at $46.88. Micron Technology shares last traded at $46.88, with a volume of 51980000 shares.

Several equities research analysts have recently commented on the company. BidaskClub lowered Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Zacks Investment Research lowered Micron Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of Micron Technology in a research note on Wednesday, December 20th. Deutsche Bank restated a “buy” rating and issued a $60.00 price objective on shares of Micron Technology in a research note on Wednesday, December 20th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $60.00 price objective (up from $50.00) on shares of Micron Technology in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $55.33.

The firm has a market cap of $54,250.00, a price-to-earnings ratio of 7.38, a P/E/G ratio of 0.45 and a beta of 1.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, beating the consensus estimate of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s revenue was up 71.4% on a year-over-year basis. analysts predict that Micron Technology, Inc. will post 9.78 EPS for the current year.

In other Micron Technology news, SVP April S. Arnzen sold 27,878 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the completion of the transaction, the senior vice president now owns 58,659 shares of the company’s stock, valued at approximately $2,596,833.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 16,950 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $41.40, for a total transaction of $701,730.00. The disclosure for this sale can be found here. Insiders have sold a total of 205,670 shares of company stock valued at $8,747,970 in the last three months. Insiders own 0.53% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Capital Research Global Investors lifted its holdings in shares of Micron Technology by 386.6% in 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 acquiring an additional 31,616,346 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Micron Technology by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock valued at $420,639,000 after acquiring an additional 74,670 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Micron Technology by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock valued at $476,863,000 after acquiring an additional 274,086 shares during the last quarter. CI Investments Inc. lifted its holdings in shares of Micron Technology by 0.5% in the 3rd quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock valued at $297,740,000 after acquiring an additional 35,300 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Micron Technology by 1.7% in the 3rd quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock valued at $221,856,000 after acquiring an additional 94,517 shares during the last quarter. 80.82% of the stock is owned by hedge funds and other institutional investors.

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