Micron Technology, Inc. (NASDAQ:MU)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $47.66, but opened at $46.39. Micron Technology shares last traded at $45.23, with a volume of 20,806,099 shares changing hands.
A number of research analysts have recently weighed in on the company. Mizuho restated a “buy” rating and issued a $53.00 price target (up previously from $50.00) on shares of Micron Technology in a research report on Monday, November 11th. Needham & Company LLC increased their price objective on shares of Micron Technology to $60.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Susquehanna Bancshares set a $45.00 target price on shares of Micron Technology and gave the company a “hold” rating in a report on Friday, September 27th. Morgan Stanley restated a “hold” rating and set a $48.00 target price on shares of Micron Technology in a report on Monday, September 23rd. Finally, Deutsche Bank set a $55.00 target price on shares of Micron Technology and gave the stock a “buy” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have assigned a buy rating to the company. Micron Technology currently has an average rating of “Buy” and an average target price of $53.46.
The stock has a market capitalization of $51.55 billion, a PE ratio of 7.57 and a beta of 1.97. The company has a current ratio of 2.58, a quick ratio of 1.78 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average is $46.86 and its two-hundred day moving average is $43.01.
In other news, SVP April S. Arnzen sold 2,477 shares of Micron Technology stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $48.47, for a total transaction of $120,060.19. Following the sale, the senior vice president now directly owns 72,431 shares of the company’s stock, valued at $3,510,730.57. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $50.00, for a total value of $1,000,000.00. Following the sale, the executive vice president now directly owns 110,236 shares in the company, valued at $5,511,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,527 shares of company stock worth $2,536,490. Company insiders own 0.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Virtus ETF Advisers LLC acquired a new stake in Micron Technology in the second quarter valued at $25,000. Doyle Wealth Management bought a new stake in Micron Technology in the second quarter valued at about $30,000. Whittier Trust Co. raised its stake in Micron Technology by 115.2% during the third quarter. Whittier Trust Co. now owns 794 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 425 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in Micron Technology during the second quarter valued at approximately $37,000. Finally, Griffin Asset Management Inc. bought a new position in Micron Technology during the 2nd quarter worth approximately $39,000. 77.51% of the stock is owned by hedge funds and other institutional investors.
About Micron Technology (NASDAQ:MU)
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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