Micron Technology, Inc. (NASDAQ:MU) SVP Joel L. Poppen sold 4,984 shares of Micron Technology stock in a transaction dated Monday, October 11th. The shares were sold at an average price of $69.85, for a total value of $348,132.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
MU opened at $66.38 on Thursday. Micron Technology, Inc. has a 12-month low of $49.30 and a 12-month high of $96.96. The company has a current ratio of 3.40, a quick ratio of 2.57 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $72.81 and its 200-day simple moving average is $79.30. The company has a market capitalization of $74.73 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.49 and a beta of 1.27.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Monday, September 27th. The semiconductor manufacturer reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.09. Micron Technology had a return on equity of 12.60% and a net margin of 16.20%. The business had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter in the prior year, the company earned $1.00 EPS. The business’s revenue was up 36.6% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology, Inc. will post 5.65 EPS for the current year.
A number of research analysts recently commented on MU shares. Cleveland Research cut Micron Technology from a “buy” rating to a “neutral” rating in a report on Friday, June 18th. JPMorgan Chase & Co. lowered their price target on Micron Technology from $140.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, September 24th. Citigroup decreased their price objective on Micron Technology from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, September 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Micron Technology in a report on Wednesday, September 29th. Finally, Piper Sandler decreased their price objective on Micron Technology from $90.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, September 29th. Six investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Buy” and a consensus price target of $107.60.
Several institutional investors and hedge funds have recently bought and sold shares of MU. Meridian Wealth Partners LLC purchased a new stake in shares of Micron Technology during the 1st quarter worth $25,000. Red Door Wealth Management LLC purchased a new stake in shares of Micron Technology during the 2nd quarter worth $32,000. Sterling Investment Advisors Ltd. lifted its stake in shares of Micron Technology by 700.0% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 400 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the last quarter. Capital Analysts LLC purchased a new stake in shares of Micron Technology during the 2nd quarter worth $35,000. Finally, TD Capital Management LLC purchased a new stake in shares of Micron Technology during the 2nd quarter worth $36,000. 78.34% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology Company Profile
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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