Traders Buy Shares of Micron Technology (MU) on Weakness
Traders bought shares of Micron Technology, Inc. (NASDAQ:MU) on weakness during trading on Thursday. $230.06 million flowed into the stock on the tick-up and $207.03 million flowed out of the stock on the tick-down, for a money net flow of $23.03 million into the stock. Of all stocks tracked, Micron Technology had the 24th highest net in-flow for the day. Micron Technology traded down ($0.29) for the day and closed at $44.25
MU has been the subject of a number of research analyst reports. UBS Group increased their price target on Micron Technology from $75.00 to $85.00 in a research report on Wednesday, December 20th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target for the company in a research report on Wednesday, October 25th. Deutsche Bank reaffirmed a “buy” rating and set a $50.00 price target on shares of Micron Technology in a research report on Tuesday, November 7th. Cowen reaffirmed a “buy” rating and set a $50.00 price target on shares of Micron Technology in a research report on Wednesday, November 1st. Finally, ValuEngine downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $55.80.
The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $51,170.00, a price-to-earnings ratio of 6.97, a P/E/G ratio of 0.44 and a beta of 1.62.
In other news, EVP Scott J. Deboer sold 14,750 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $43.28, for a total value of $638,380.00. Following the completion of the transaction, the executive vice president now directly owns 134,854 shares of the company’s stock, valued at $5,836,481.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP April S. Arnzen sold 1,222 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $43.77, for a total value of $53,486.94. Following the completion of the transaction, the senior vice president now directly owns 57,969 shares of the company’s stock, valued at $2,537,303.13. The disclosure for this sale can be found here. Insiders sold 174,692 shares of company stock valued at $7,473,967 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.
Large investors have recently bought and sold shares of the stock. SevenBridge Financial Group LLC boosted its stake in Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after buying an additional 1,190 shares during the period. Salem Investment Counselors Inc. boosted its stake in Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after buying an additional 1,252 shares during the period. Jacobi Capital Management LLC boosted its stake in Micron Technology by 368.8% during the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after buying an additional 2,600 shares during the period. Northwest Investment Counselors LLC bought a new stake in Micron Technology during the third quarter valued at $184,000. Finally, CAPROCK Group Inc. bought a new stake in Micron Technology during the third quarter valued at $202,000. 81.34% of the stock is owned by institutional investors.
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About Micron Technology
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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