Traders Sell Micron Technology (MU) on Strength on Insider Selling

Traders sold shares of Micron Technology, Inc. (NASDAQ:MU) on strength during trading hours on Monday 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 stocks 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 Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $41.38, for a total transaction of $124,140.00. Following the completion of the sale, the director now directly owns 116,699 shares of the company’s stock, valued at $4,829,004.62. The disclosure for this sale can be found here. Insiders sold 174,692 shares of company stock valued at $7,473,967 over the last three months. 0.53% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on the stock. Goldman Sachs Group set a $55.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a research report on Thursday, January 11th. Stifel Nicolaus restated a “buy” rating and issued a $75.00 price objective (up previously from $65.00) on shares of Micron Technology in a research report on Wednesday, December 20th. They noted that the move was a valuation call. Cowen boosted their price objective on shares of Micron Technology from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. Vetr upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price objective on the stock in a research report on Tuesday, November 21st. Finally, Citigroup restated a “buy” rating on shares of Micron Technology in a research report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $55.80.

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. The firm has a market cap of $51,120.00, a P/E ratio of 6.96, a P/E/G ratio of 0.44 and a beta of 1.62.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Micron Technology’s quarterly revenue was up 71.4% on a year-over-year basis. analysts forecast that Micron Technology, Inc. will post 10.12 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Micron Technology by 26,035.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,756,637 shares of the semiconductor manufacturer’s stock worth $195,593,000 after buying an additional 4,738,437 shares in the last quarter. Greenlight Capital Inc. lifted its stake in shares of Micron Technology by 89.5% in the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock worth $197,511,000 after buying an additional 2,371,900 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Micron Technology in the fourth quarter worth approximately $61,747,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Micron Technology by 53.3% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 3,969,870 shares of the semiconductor manufacturer’s stock worth $156,135,000 after buying an additional 1,379,561 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Micron Technology by 174.8% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,126,215 shares of the semiconductor manufacturer’s stock worth $87,430,000 after buying an additional 1,352,435 shares in the last quarter. 81.34% of the stock is currently owned by institutional investors and hedge funds.

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Micron Technology Company Profile

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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