Insider Buying: Micron Technology, Inc. (MU) CFO Buys 3,400 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU) CFO Ernest E. Maddock purchased 3,400 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $27.89 per share, with a total value of $94,826.00. Following the purchase, the chief financial officer now owns 192,385 shares of the company’s stock, valued at approximately $5,365,617.65. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Micron Technology, Inc. (NASDAQ MU) traded up 1.92% during trading on Friday, hitting $30.19. The stock had a trading volume of 8,572,664 shares. The stock’s 50-day moving average price is $29.98 and its 200 day moving average price is $28.15. The firm has a market capitalization of $33.51 billion, a P/E ratio of 13.26 and a beta of 1.76. Micron Technology, Inc. has a 1-year low of $15.38 and a 1-year high of $32.96. Micron Technology also was the recipient of some unusual options trading on Wednesday. Stock traders acquired 41,784 put options on the stock. This is an increase of 107% compared to the average volume of 20,197 put options.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.25. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company’s revenue was up 92.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. On average, analysts anticipate that Micron Technology, Inc. will post $4.71 earnings per share for the current year.

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Several equities research analysts have recently weighed in on MU shares. UBS AG reissued an “average” rating and issued a $36.00 price target (up previously from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Mizuho reissued a “buy” rating and issued a $35.00 price target on shares of Micron Technology in a research note on Tuesday, April 25th. Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a research note on Thursday, June 8th. Stifel Nicolaus reissued a “buy” rating and issued a $47.00 price target on shares of Micron Technology in a research note on Tuesday, June 6th. Finally, ValuEngine cut Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Micron Technology currently has a consensus rating of “Buy” and an average target price of $35.65.

Several institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors bought a new stake in Micron Technology during the second quarter valued at approximately $107,000. Guardian Life Insurance Co. of America raised its stake in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the period. First Personal Financial Services raised its stake in Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock valued at $122,000 after buying an additional 2,083 shares during the period. Washington Trust Bank raised its stake in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $126,000 after buying an additional 63 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new stake in Micron Technology during the second quarter valued at approximately $141,000. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Company Profile

Insider Buying and Selling by Quarter for Micron Technology (NASDAQ:MU)

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