Micron Technology, Inc. (NASDAQ:MU) SVP Michael W. Bokan sold 427 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $45.64, for a total value of $19,488.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
MU stock traded up $0.48 during mid-day trading on Friday, hitting $44.08. 31,615,202 shares of the company were exchanged, compared to its average volume of 30,362,973. The business has a 50 day simple moving average of $40.61. The company has a quick ratio of 1.88, a current ratio of 2.79 and a debt-to-equity ratio of 0.10. The firm has a market cap of $52.39 billion, a PE ratio of 3.73 and a beta of 1.97. Micron Technology, Inc. has a 1-year low of $28.39 and a 1-year high of $53.68.
Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.30. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the business earned $3.15 earnings per share. The firm’s quarterly revenue was down 38.6% on a year-over-year basis. Sell-side analysts predict that Micron Technology, Inc. will post 6.06 earnings per share for the current year.
Several brokerages recently commented on MU. Stifel Nicolaus dropped their price objective on Micron Technology from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Needham & Company LLC raised Micron Technology from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, June 26th. Robert W. Baird dropped their price objective on Micron Technology from $32.00 to $28.00 and set an “underperform” rating on the stock in a research note on Friday, June 21st. KeyCorp dropped their price objective on Micron Technology from $48.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 26th. Finally, ValuEngine raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $48.27.
About Micron Technology
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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