Robert L. Bailey Sells 3,000 Shares of Micron Technology, Inc. (MU) Stock

Micron Technology, Inc. (NASDAQ:MU) Director Robert L. Bailey sold 3,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Micron Technology, Inc. (NASDAQ MU) opened at $45.80 on Friday. Micron Technology, Inc. has a 12 month low of $21.49 and a 12 month high of $49.89. The stock has a market capitalization of $54,208.05, a PE ratio of 7.14, a PEG ratio of 0.48 and a beta of 1.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $6.43 billion. During the same period last year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 71.4% compared to the same quarter last year. sell-side analysts anticipate that Micron Technology, Inc. will post 9.78 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Micron Technology during the fourth quarter valued at about $6,571,000. Prudential Financial Inc. grew its stake in shares of Micron Technology by 17.1% during the third quarter. Prudential Financial Inc. now owns 1,775,481 shares of the semiconductor manufacturer’s stock valued at $69,830,000 after buying an additional 259,557 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Micron Technology by 1.5% during the third quarter. Parametric Portfolio Associates LLC now owns 3,383,098 shares of the semiconductor manufacturer’s stock valued at $133,057,000 after buying an additional 51,527 shares during the last quarter. Shelton Capital Management grew its stake in shares of Micron Technology by 104.0% during the third quarter. Shelton Capital Management now owns 188,499 shares of the semiconductor manufacturer’s stock valued at $7,414,000 after buying an additional 96,100 shares during the last quarter. Finally, Rubric Capital Management LP grew its stake in shares of Micron Technology by 130.8% during the third quarter. Rubric Capital Management LP now owns 600,000 shares of the semiconductor manufacturer’s stock valued at $23,598,000 after buying an additional 340,000 shares during the last quarter. 80.82% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on MU. Susquehanna Bancshares increased their price objective on Micron Technology from $40.00 to $50.00 and gave the stock a “positive” rating in a research report on Tuesday, September 19th. Goldman Sachs Group upgraded Micron Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $40.00 in a research report on Tuesday, September 12th. UBS Group reiterated a “buy” rating and issued a $53.00 price objective (up previously from $39.50) on shares of Micron Technology in a research report on Thursday, October 19th. They noted that the move was a valuation call. Stifel Nicolaus reiterated 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. Finally, Loop Capital reiterated a “buy” rating and issued a $46.00 price objective (up previously from $40.00) on shares of Micron Technology in a research report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $55.33.

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