Micron Technology, Inc. (NASDAQ:MU) SVP Joel L. Poppen sold 20,210 shares of Micron Technology stock in a transaction on Monday, April 15th. The shares were sold at an average price of $41.45, for a total value of $837,704.50. Following the completion of the transaction, the senior vice president now directly owns 269,368 shares of the company’s stock, valued at $11,165,303.60. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Micron Technology stock traded down $0.33 during trading hours on Friday, reaching $38.94. The company had a trading volume of 29,152,582 shares, compared to its average volume of 30,501,773. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.25 and a quick ratio of 1.65. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $64.66. The firm has a market capitalization of $43.99 billion, a P/E ratio of 3.29 and a beta of 1.84.
Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter last year, the business posted $2.82 earnings per share. The company’s revenue for the quarter was down 20.6% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 6.27 earnings per share for the current fiscal year.
Several equities research analysts recently commented on MU shares. BidaskClub upgraded Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Citigroup downgraded Micron Technology from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $35.00 to $30.00 in a research note on Thursday, March 21st. ValuEngine raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Royal Bank of Canada assumed coverage on Micron Technology in a research note on Thursday, March 28th. They set an “outperform” rating and a $50.00 price target on the stock. Finally, Summit Insights raised Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have assigned a buy rating to the company. Micron Technology presently has a consensus rating of “Hold” and a consensus price target of $55.85.
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About Micron Technology
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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