Micron Technology, Inc. (MU) Director Robert L. Bailey 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 that occurred on Tuesday, January 2nd. The shares were sold at an average price of $42.73, for a total value of $128,190.00. Following the completion of the sale, the director now owns 113,585 shares in the company, valued at approximately $4,853,487.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Micron Technology, Inc. (NASDAQ MU) traded down $0.47 during mid-day trading on Friday, reaching $46.42. The company’s stock had a trading volume of 29,417,334 shares, compared to its average volume of 44,209,234. The firm has a market cap of $53,580.00, a P/E ratio of 7.31, a P/E/G ratio of 0.46 and a beta of 1.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. Micron Technology, Inc. has a fifty-two week low of $21.49 and a fifty-two week high of $49.89.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping 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 firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s revenue was up 71.4% compared to the same quarter last year. equities research analysts expect that Micron Technology, Inc. will post 9.78 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. SevenBridge Financial Group LLC lifted its stake in Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after purchasing an additional 1,190 shares during the last quarter. Captrust Financial Advisors purchased a new position in Micron Technology in the second quarter valued at approximately $107,000. Salem Investment Counselors Inc. lifted its stake in Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after purchasing an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Krilogy Financial LLC lifted its stake in Micron Technology by 1,087.5% in the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after purchasing an additional 4,350 shares during the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

A number of brokerages have recently weighed in on MU. Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Morgan Stanley raised their price objective on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Robert W. Baird restated an “outperform” rating and set a $60.00 price objective (up previously from $52.00) on shares of Micron Technology in a research note on Tuesday, November 28th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 target price on the stock in a report on Tuesday, November 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price (up previously 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 issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.33.

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