Investors Sell Shares of Micron Technology (MU) on Strength on Insider Selling

Traders sold shares of Micron Technology, Inc. (NASDAQ:MU) on strength during trading hours on Friday following insider selling activity. $383.35 million flowed into the stock on the tick-up and $466.22 million flowed out of the stock on the tick-down, for a money net flow of $82.87 million out of the stock. Of all companies tracked, Micron Technology had the 0th highest net out-flow for the day. Micron Technology traded up $0.71 for the day and closed at $44.21Specifically, SVP April S. Arnzen sold 27,878 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $44.27, for a total value 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 $2,596,833.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,692 shares of company stock valued at $7,473,967. Corporate insiders own 0.53% of the company’s stock.

A number of equities analysts have recently weighed in on MU shares. UBS Group upped their price objective on Micron Technology from $75.00 to $85.00 in a research note on Wednesday, December 20th. Vetr lowered Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price objective for the company. in a research note on Friday, November 17th. Morgan Stanley boosted their target price on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. ValuEngine downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Deutsche Bank reiterated a “buy” rating and issued a $50.00 target price on shares of Micron Technology in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Micron Technology presently has an average rating of “Buy” and a consensus target price of $55.80.

The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $51,120.68, a PE ratio of 6.96, a PEG ratio of 0.44 and a beta of 1.62.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) 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 business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 71.4% compared to the same quarter last year. equities analysts expect that Micron Technology, Inc. will post 10.12 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of MU. Geode Capital Management LLC grew its stake in shares of Micron Technology by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 12,907,706 shares of the semiconductor manufacturer’s stock valued at $529,730,000 after buying an additional 835,541 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Micron Technology by 2.3% during the third quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock valued at $476,863,000 after buying an additional 274,086 shares during the last quarter. CI Investments Inc. grew its stake in shares of Micron Technology by 0.5% during the third quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock valued at $297,740,000 after buying an additional 35,300 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Micron Technology by 1.7% during the third quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock valued at $221,856,000 after buying an additional 94,517 shares during the last quarter. Finally, Greenlight Capital Inc. grew its stake in shares of Micron Technology by 89.5% during the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after buying an additional 2,371,900 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

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About Micron Technology

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

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