Traders purchased shares of Micron Technology, Inc. (NASDAQ:MU) on weakness during trading on Tuesday. $597.56 million flowed into the stock on the tick-up and $554.22 million flowed out of the stock on the tick-down, for a money net flow of $43.34 million into the stock. Of all stocks tracked, Micron Technology had the 13th highest net in-flow for the day. Micron Technology traded down ($2.58) for the day and closed at $42.97
MU has been the subject of a number of recent analyst reports. Wells Fargo & Co reiterated a “buy” rating and issued a $54.00 price objective (up previously from $45.00) on shares of Micron Technology in a report on Wednesday, December 20th. Zacks Investment Research downgraded Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. BidaskClub upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price objective for the company in a report on Wednesday, October 25th. Finally, Cowen set a $50.00 price objective on Micron Technology and gave the company a “buy” rating in a report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $55.33.
The stock has a market cap of $49,690.00, a price-to-earnings ratio of 6.77, a PEG ratio of 0.47 and a beta of 1.75. The company has a quick ratio of 1.83, a current ratio of 2.39 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, topping 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 company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 71.4% compared to the same quarter last year. sell-side analysts predict that Micron Technology, Inc. will post 9.78 earnings per share for the current fiscal year.
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 transaction of $133,650.00. Following the completion of the transaction, the director now directly owns 117,299 shares of the company’s stock, valued at $5,225,670.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP April S. Arnzen sold 27,878 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $44.27, for a total value of $1,234,159.06. Following the transaction, the senior vice president now directly owns 58,659 shares of the company’s stock, valued at $2,596,833.93. The disclosure for this sale can be found here. Insiders sold 188,720 shares of company stock valued at $8,046,240 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. SevenBridge Financial Group LLC boosted its position in Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after purchasing an additional 1,190 shares during the last quarter. Captrust Financial Advisors acquired a new position in Micron Technology during the second quarter valued at approximately $107,000. Salem Investment Counselors Inc. boosted its position in Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after purchasing an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC boosted its position in Micron Technology by 368.8% during the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Krilogy Financial LLC boosted its position in Micron Technology by 1,087.5% during the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after purchasing an additional 4,350 shares during the last quarter. 80.89% of the stock is owned by institutional investors.
Micron Technology Company Profile
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