Trade Report: Today, Micron Technology Inc. (MU) VP April S. Arnzen Sold 11,424 Shares

Today, Micron Technology Inc. (MU) VP April S. Arnzen Sold 11,424 Shares

Micron Technology Inc. (NASDAQ:MU) VP April S. Arnzen sold 11,424 shares of the firm’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $17.72, for a total transaction of $202,433.28. Following the completion of the sale, the vice president now owns 39,993 shares in the company, valued at approximately $708,675.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Micron Technology Inc. (NASDAQ:MU) opened at 17.73 on Friday. The firm has a 50-day moving average price of $17.03 and a 200-day moving average price of $13.29. Micron Technology Inc. has a one year low of $9.31 and a one year high of $19.30. The firm has a market capitalization of $18.41 billion, a price-to-earnings ratio of 50.95 and a beta of 1.77.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.12. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The firm earned $3.22 billion during the quarter. During the same period last year, the business posted $0.37 EPS. The company’s revenue was down 10.6% on a year-over-year basis. Analysts expect that Micron Technology Inc. will post $1.12 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Credit Capital Investments LLC boosted its stake in shares of Micron Technology by 1,102.1% in the second quarter. Credit Capital Investments LLC now owns 10,526,400 shares of the semiconductor manufacturer’s stock worth $10,526,000 after buying an additional 9,650,700 shares during the period. Standard Life Investments LTD purchased a new stake in shares of Micron Technology during the second quarter worth approximately $89,591,000. CI Investments Inc. purchased a new stake in shares of Micron Technology during the second quarter worth approximately $86,285,000. Primecap Management Co. CA boosted its stake in shares of Micron Technology by 11.6% in the first quarter. Primecap Management Co. CA now owns 57,143,016 shares of the semiconductor manufacturer’s stock worth $598,287,000 after buying an additional 5,961,872 shares during the period. Finally, Natixis boosted its stake in shares of Micron Technology by 90.7% in the first quarter. Natixis now owns 6,019,111 shares of the semiconductor manufacturer’s stock worth $63,020,000 after buying an additional 2,862,897 shares during the period. 81.42% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on MU. Morgan Stanley restated an “overweight” rating and issued a $18.00 price objective on shares of Micron Technology in a research note on Tuesday, July 5th. Vetr upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $18.87 price objective on the stock in a research note on Tuesday, August 30th. Deutsche Bank AG restated a “buy” rating and issued a $20.00 price objective on shares of Micron Technology in a research note on Friday, September 16th. JPMorgan Chase & Co. restated a “buy” rating and issued a $15.00 price objective on shares of Micron Technology in a research note on Wednesday, June 29th. Finally, Brean Capital restated a “buy” rating and issued a $14.00 price objective on shares of Micron Technology in a research note on Monday, June 27th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.35.

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