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.

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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.

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