Micron Technology, Inc. (NASDAQ:MU) Insider Joel L. Poppen Sells 654 Shares

Micron Technology, Inc. (NASDAQ:MU) insider Joel L. Poppen sold 654 shares of Micron Technology stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $45.64, for a total value of $29,848.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

MU traded up $0.48 during midday trading on Friday, hitting $44.08. The company’s stock had a trading volume of 31,615,202 shares, compared to its average volume of 30,362,973. The company has a current ratio of 2.79, a quick ratio of 1.88 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $52.39 billion, a price-to-earnings ratio of 3.73 and a beta of 1.97. The firm has a 50-day simple moving average of $40.83. Micron Technology, Inc. has a 52-week low of $28.39 and a 52-week high of $53.68.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 EPS for the quarter, beating the consensus estimate of $0.75 by $0.30. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The firm’s revenue was down 38.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.15 EPS. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.06 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Valeo Financial Advisors LLC grew its holdings in Micron Technology by 73.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 300 shares during the period. Gemmer Asset Management LLC grew its holdings in Micron Technology by 49.9% in the 1st quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 235 shares during the period. Berman Capital Advisors LLC grew its holdings in Micron Technology by 56.7% in the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 255 shares during the period. Citizens Financial Group Inc RI purchased a new stake in Micron Technology in the 1st quarter valued at about $37,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Micron Technology during the 1st quarter worth about $38,000. Institutional investors own 77.36% of the company’s stock.

MU has been the subject of several research reports. Goldman Sachs Group downgraded Micron Technology from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Wedbush initiated coverage on Micron Technology in a research note on Wednesday, June 26th. They set a “neutral” rating and a $30.00 price target for the company. Barclays lifted their price target on Micron Technology from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Mizuho reaffirmed a “hold” rating and set a $44.00 price target on shares of Micron Technology in a research note on Thursday, July 11th. Finally, ValuEngine raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Hold” and a consensus price target of $48.27.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Insider Buying and Selling by Quarter for Micron Technology (NASDAQ:MU)

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