Micron Technology, Inc. (NASDAQ:MU) Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.86, for a total value of $119,580.00. Following the sale, the director now owns 114,284 shares in the company, valued at approximately $4,555,360.24. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of Micron Technology, Inc. (NASDAQ:MU) traded up 0.03% during midday trading on Thursday, hitting $39.57. The company had a trading volume of 16,227,607 shares. The stock has a 50 day moving average price of $33.83 and a 200 day moving average price of $30.45. Micron Technology, Inc. has a 1-year low of $16.17 and a 1-year high of $40.54. The firm has a market capitalization of $43.92 billion, a P/E ratio of 17.38 and a beta of 1.82.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. Micron Technology’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post $7.55 EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the stock. Eqis Capital Management Inc. boosted its holdings in shares of Micron Technology by 249.5% during the 3rd quarter. Eqis Capital Management Inc. now owns 41,606 shares of the semiconductor manufacturer’s stock valued at $1,636,000 after purchasing an additional 29,702 shares during the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at about $142,000. Achmea Investment Management B.V. boosted its holdings in shares of Micron Technology by 59.0% during the 2nd quarter. Achmea Investment Management B.V. now owns 51,145 shares of the semiconductor manufacturer’s stock valued at $1,525,000 after purchasing an additional 18,973 shares during the last quarter. Navellier & Associates Inc boosted its holdings in shares of Micron Technology by 83.0% during the 2nd quarter. Navellier & Associates Inc now owns 340,780 shares of the semiconductor manufacturer’s stock valued at $10,176,000 after purchasing an additional 154,513 shares during the last quarter. Finally, WFG Advisors LP boosted its holdings in shares of Micron Technology by 25.3% during the 2nd quarter. WFG Advisors LP now owns 11,650 shares of the semiconductor manufacturer’s stock valued at $348,000 after purchasing an additional 2,350 shares during the last quarter. 79.32% of the stock is owned by institutional investors.

MU has been the topic of several research analyst reports. UBS AG restated an “average” rating and set a $36.00 target price (up previously from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Needham & Company LLC restated a “buy” rating on shares of Micron Technology in a research report on Thursday, June 8th. BidaskClub lowered Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Mizuho reaffirmed a “buy” rating and set a $35.00 price target on shares of Micron Technology in a research note on Friday, June 16th. Finally, Loop Capital reaffirmed a “buy” rating and set a $40.00 price target (up from $35.00) on shares of Micron Technology in a research note on Thursday, June 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $44.41.

About Micron Technology

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