Posted by Defense World Staff on Jun 22nd, 2024 
Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shares were down 2.8% on Thursday . The company traded as low as $148.04 and last traded at $149.09. Approximately 14,312,017 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 19,211,539 shares. The stock had previously closed at $153.45.
Several equities analysts have recently issued reports on MU shares. Susquehanna lifted their target price on shares of Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a report on Monday, June 17th. JPMorgan Chase & Co. lifted their price objective on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Mizuho increased their target price on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Barclays lifted their price target on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $147.32.
Read Our Latest Analysis on Micron Technology
The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company has a market capitalization of $154.52 billion, a P/E ratio of -40.45 and a beta of 1.21. The firm’s 50-day moving average is $125.90 and its 200-day moving average is $103.91.
Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the firm posted ($2.03) EPS. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 0.39 EPS for the current fiscal year.
In other news, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the transaction, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the chief executive officer now owns 743,557 shares in the company, valued at $89,226,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the sale, the executive vice president now directly owns 260,857 shares in the company, valued at approximately $30,981,985.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 320,446 shares of company stock valued at $38,724,533. Company insiders own 0.32% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Rathbones Group PLC purchased a new stake in Micron Technology in the 3rd quarter worth $334,000. V Square Quantitative Management LLC bought a new stake in shares of Micron Technology in the third quarter worth about $198,000. Mariner LLC lifted its position in shares of Micron Technology by 8.8% in the third quarter. Mariner LLC now owns 177,720 shares of the semiconductor manufacturer’s stock worth $12,091,000 after buying an additional 14,405 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Micron Technology by 52.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,951 shares of the semiconductor manufacturer’s stock valued at $201,000 after buying an additional 1,018 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in Micron Technology by 10.9% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,196 shares of the semiconductor manufacturer’s stock valued at $1,102,000 after buying an additional 1,598 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.
(Get Free Report)
Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
Receive News & Ratings for Micron Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Micron Technology and related companies with MarketBeat.com’s FREE daily email newsletter.
Bank of New Hampshire Sells 59,407 Shares of Regions Financial Co. (NYSE:RF)
Costco Wholesale (NASDAQ:COST) Trading Down 0.2%
