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.
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.
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