Micron Technology, Inc. (MU) Short Interest Down 3.4% in December

Micron Technology, Inc. (NASDAQ:MU) saw a large decrease in short interest in the month of December. As of December 29th, there was short interest totalling 57,249,397 shares, a decrease of 3.4% from the December 15th total of 59,290,487 shares. Based on an average daily volume of 43,456,855 shares, the short-interest ratio is presently 1.3 days. Currently, 5.2% of the company’s shares are sold short.

A number of analysts have recently commented on MU shares. Wells Fargo & Co reaffirmed a “buy” rating and issued a $54.00 price target (up from $45.00) on shares of Micron Technology in a research note on Wednesday, December 20th. Zacks Investment Research cut Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target for the company in a research note on Wednesday, October 25th. Finally, Cowen set a $50.00 price target on Micron Technology and gave the company a “buy” rating in a research note on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.33.

In other news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the sale, the director now directly owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The sale was disclosed in a document filed 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 Friday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. Following the completion of the sale, the senior vice president now directly owns 202,486 shares of the company’s stock, valued at $8,585,406.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,720 shares of company stock worth $8,046,240. Corporate insiders own 0.53% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its holdings in Micron Technology by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 134,094 shares of the semiconductor manufacturer’s stock valued at $4,005,000 after purchasing an additional 469 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in Micron Technology by 1.2% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 71,390 shares of the semiconductor manufacturer’s stock valued at $2,132,000 after purchasing an additional 865 shares during the last quarter. IHT Wealth Management LLC acquired a new stake in Micron Technology during the 2nd quarter valued at $1,056,000. SevenBridge Financial Group LLC lifted its holdings in Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after purchasing an additional 1,252 shares during the last quarter. 80.89% of the stock is owned by institutional investors and hedge funds.

Shares of Micron Technology (NASDAQ MU) opened at $42.81 on Friday. Micron Technology has a twelve month low of $21.49 and a twelve month high of $49.89. The stock has a market capitalization of $49,500.00, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 0.47 and a beta of 1.75. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter last year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 71.4% on a year-over-year basis. equities research analysts expect that Micron Technology will post 9.78 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Micron Technology, Inc. (MU) Short Interest Down 3.4% in December” was reported by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://www.com-unik.info/2018/01/13/micron-technology-inc-mu-short-interest-down-3-4-in-december.html.

About Micron Technology

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit