Micron Technology, Inc. (MU) Short Interest Update

Micron Technology, Inc. (NASDAQ:MU) was the recipient of a large decrease in short interest in the month of December. As of December 29th, there was short interest totalling 57,249,397 shares, a decrease of 3.4% from the December 15th total of 59,290,487 shares. Currently, 5.2% of the shares of the company are sold short. Based on an average daily volume of 43,456,855 shares, the days-to-cover ratio is currently 1.3 days.

In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the stock in a transaction on Friday, December 28th. The stock was sold at an average price of $42.40, for a total transaction of $2,583,050.40. Following the completion of the transaction, the senior vice president now owns 202,486 shares in the company, valued at approximately $8,585,406.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the transaction, the director now owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The disclosure for this sale can be found here. Insiders sold a total of 188,720 shares of company stock valued at $8,046,240 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Hedge funds have recently modified their holdings of the company. SevenBridge Financial Group LLC boosted its position in shares of 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 purchasing an additional 1,190 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Micron Technology during the second quarter valued at approximately $107,000. Salem Investment Counselors Inc. boosted its position in shares of 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 purchasing an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC boosted its position in shares of 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 purchasing an additional 2,600 shares in the last quarter. Finally, Krilogy Financial LLC boosted its position in shares of Micron Technology by 1,087.5% during the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after purchasing an additional 4,350 shares in the last quarter. Hedge funds and other institutional investors own 80.92% of the company’s stock.

A number of analysts recently issued reports on MU shares. Deutsche Bank reissued a “buy” rating and set a $42.00 price objective (up previously from $37.00) on shares of Micron Technology in a report on Wednesday, September 20th. MKM Partners reissued a “buy” rating and set a $45.00 price objective (up previously from $40.00) on shares of Micron Technology in a report on Wednesday, September 20th. Loop Capital reissued a “buy” rating and set a $46.00 price objective (up previously from $40.00) on shares of Micron Technology in a report on Thursday, September 21st. Vetr raised Micron Technology from a “buy” rating to a “strong-buy” rating and set a $40.63 price target on the stock in a report on Friday, September 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $75.00 price target on shares of Micron Technology in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $55.33.

Micron Technology (NASDAQ:MU) opened at $44.26 on Thursday. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. Micron Technology has a 1 year low of $21.49 and a 1 year high of $49.89. The stock has a market capitalization of $51,180.00, a P/E ratio of 6.97, a P/E/G ratio of 0.44 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.60. The business had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. Micron Technology’s revenue for the quarter was up 71.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. analysts predict that Micron Technology will post 9.78 earnings per share for the current year.

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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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