Insider Selling: Micron Technology Inc. (MU) VP Sells $202,433.28 in Stock
Micron Technology Inc. (NASDAQ:MU) VP April S. Arnzen sold 11,424 shares of the stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $17.72, for a total transaction of $202,433.28. Following the completion of the transaction, the vice president now owns 39,993 shares of the company’s stock, valued at $708,675.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Micron Technology Inc. (NASDAQ:MU) opened at 16.86 on Wednesday. The firm’s market cap is $17.48 billion. The stock has a 50 day moving average of $17.13 and a 200 day moving average of $13.44. Micron Technology Inc. has a 12-month low of $9.31 and a 12-month high of $19.30.
Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.12. The firm earned $3.22 billion during the quarter. Micron Technology had a negative net margin of 2.23% and a positive return on equity of 0.50%. The firm’s revenue was down 10.6% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. On average, equities research analysts anticipate that Micron Technology Inc. will post $1.12 EPS for the current fiscal year.
A number of analysts recently weighed in on MU shares. Barclays PLC raised their target price on shares of Micron Technology from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 3rd. Vetr cut shares of Micron Technology from a “strong-buy” rating to a “buy” rating and set a $17.99 target price for the company. in a report on Thursday, August 25th. Cowen and Company restated a “buy” rating and set a $15.00 target price on shares of Micron Technology in a report on Friday, July 1st. Credit Suisse Group AG restated an “outperform” rating and set a $20.00 target price on shares of Micron Technology in a report on Tuesday, July 26th. Finally, Brean Capital restated a “buy” rating and set a $14.00 target price on shares of Micron Technology in a report on Sunday, July 17th. Four investment 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 presently has a consensus rating of “Buy” and a consensus price target of $18.35.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in Micron Technology by 79.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,114 shares of the semiconductor manufacturer’s stock worth $111,000 after buying an additional 3,595 shares during the period. National Planning Corp bought a new position in Micron Technology during the first quarter worth approximately $135,000. Evercore Wealth Management LLC boosted its position in Micron Technology by 0.7% in the second quarter. Evercore Wealth Management LLC now owns 10,016 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 67 shares during the period. Commerce Bank bought a new position in Micron Technology during the second quarter worth approximately $147,000. Finally, Washington Trust Bank boosted its position in Micron Technology by 3.4% in the third quarter. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer’s stock worth $155,000 after buying an additional 289 shares during the period. 81.42% of the stock is owned by hedge funds and other institutional investors.
Micron Technology Company Profile
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