Traders Sell Shares of Micron Technology (MU) on Strength Following Insider Selling

Traders sold shares of Micron Technology, Inc. (NASDAQ:MU) on strength during trading hours on Tuesday after an insider sold shares in the company. $480.99 million flowed into the stock on the tick-up and $505.33 million flowed out of the stock on the tick-down, for a money net flow of $24.34 million out of the stock. Of all stocks tracked, Micron Technology had the 24th highest net out-flow for the day. Micron Technology traded up $1.31 for the day and closed at $41.21Specifically, EVP Scott J. Deboer sold 29,500 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $35.00, for a total value of $1,032,500.00. Following the sale, the executive vice president now directly owns 169,732 shares of the company’s stock, valued at approximately $5,940,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were 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 in the company, valued at $4,829,004.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 308,088 shares of company stock worth $11,852,538. 0.69% of the stock is owned by insiders.

Several equities analysts recently issued reports on the stock. Cowen set a $50.00 target price on shares of Micron Technology and gave the company a “buy” rating in a research note on Tuesday. Goldman Sachs Group upgraded shares of Micron Technology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $33.00 to $40.00 in a research note on Tuesday, September 12th. Susquehanna Bancshares boosted their target price on shares of Micron Technology from $40.00 to $50.00 and gave the company a “positive” rating in a research note on Tuesday, September 19th. UBS reiterated a “buy” rating and issued a $53.00 target price (up from $39.50) on shares of Micron Technology in a research note on Thursday, October 19th. They noted that the move was a valuation call. Finally, MKM Partners reiterated a “buy” rating on shares of Micron Technology in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Micron Technology presently has an average rating of “Buy” and an average price target of $48.20.

The company has a market capitalization of $47,880.00, a price-to-earnings ratio of 9.46, a PEG ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 90.8% compared to the same quarter last year. analysts predict that Micron Technology, Inc. will post 7.42 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in MU. Capital Research Global Investors grew its holdings in shares of Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after purchasing an additional 31,616,346 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after purchasing an additional 8,834,274 shares during the period. BT Investment Management Ltd purchased a new stake in shares of Micron Technology in the second quarter valued at about $95,449,000. Greenlight Capital Inc. grew its holdings 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 valued at $197,511,000 after purchasing an additional 2,371,900 shares during the period. Finally, Pioneer Investment Management Inc. grew its holdings in shares of Micron Technology by 298.4% in the second quarter. Pioneer Investment Management Inc. now owns 2,590,309 shares of the semiconductor manufacturer’s stock valued at $77,347,000 after purchasing an additional 1,940,212 shares during the period. 81.16% of the stock is owned by institutional investors and hedge funds.

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