Micron Technology, Inc. (MU) Short Interest Update
Micron Technology, Inc. (NASDAQ:MU) was the target of a significant decline in short interest in the month of December. As of December 29th, there was short interest totalling 57,249,397 shares, a decline of 3.4% from the December 15th total of 59,290,487 shares. Based on an average daily volume of 43,456,855 shares, the short-interest ratio is currently 1.3 days. Approximately 5.2% of the shares of the company are sold short.
Shares of Micron Technology (NASDAQ MU) opened at $44.26 on Thursday. Micron Technology has a 52-week low of $21.49 and a 52-week high of $49.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The stock has a market capitalization of $51,180.00, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 0.44 and a beta of 1.75.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 71.4% compared to the same quarter last year. equities research analysts predict that Micron Technology will post 9.78 EPS for the current year.
MU has been the subject of a number of recent analyst reports. Deutsche Bank reaffirmed a “buy” rating and issued a $42.00 price objective (up previously from $37.00) on shares of Micron Technology in a research note on Wednesday, September 20th. MKM Partners reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Micron Technology in a research note on Wednesday, September 20th. Loop Capital reaffirmed a “buy” rating and issued a $46.00 price objective (up previously from $40.00) on shares of Micron Technology in a research note on Thursday, September 21st. Vetr raised Micron Technology from a “buy” rating to a “strong-buy” rating and set a $40.63 price objective for the company in a research note on Friday, September 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $75.00 target price on shares of Micron Technology in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Micron Technology has a consensus rating of “Buy” and a consensus price target of $55.33.
In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 30,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the transaction, the executive vice president now directly owns 122,667 shares of the company’s stock, valued at approximately $5,152,014. The disclosure for this sale can be found here. Insiders have sold 188,720 shares of company stock valued at $8,046,240 in the last three months. 0.53% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in shares of Micron Technology by 0.4% in the second quarter. PNC Financial Services Group Inc. now owns 134,094 shares of the semiconductor manufacturer’s stock worth $4,005,000 after buying an additional 469 shares during the period. Stonebridge Capital Advisors LLC raised its holdings in shares of Micron Technology by 1.2% in the second quarter. Stonebridge Capital Advisors LLC now owns 71,390 shares of the semiconductor manufacturer’s stock worth $2,132,000 after buying an additional 865 shares during the period. IHT Wealth Management LLC purchased a new stake in shares of Micron Technology in the second quarter worth approximately $1,056,000. SevenBridge Financial Group LLC raised its holdings in shares of Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after buying an additional 1,190 shares during the period. Finally, Salem Investment Counselors Inc. raised its holdings in shares of Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after buying an additional 1,252 shares during the period. Institutional investors and hedge funds own 80.92% of the company’s stock.
TRADEMARK VIOLATION WARNING: This article was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://www.dailypolitical.com/2018/01/18/micron-technology-inc-mu-short-interest-update.html.
Micron Technology Company Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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.