Micron Technology Inc. (NASDAQ:MU) shares traded 1.45% higher at $123.00 on Wall Street last session.
MU stock price is now 10.50% away from the 50-day moving average and 45.81% away from the 200-day moving average. The market capitalization of the company currently stands at $136.21B.
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With the price target enhanced from $115 to $150, Robert W. Baird Upgraded its rating from Neutral to Outperform for Micron Technology Inc. (NASDAQ: MU). On April 08, 2024, KeyBanc Capital Markets reiterated its ‘Overweight’ rating on the stock by increasing its target price from $135 to quote $150, while ‘Fox Advisors’ rates the stock as ‘Overweight’
In other news, Sadana Sumit, EVP and Chief Business Officer sold 12,000 shares of the company’s stock on May 13 ’24. The stock was sold for $1,476,120 at an average price of $123.01. Upon completion of the transaction, the EVP and Chief Business Officer now directly owns 218,048 shares in the company, valued at $26.82 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10 ’24, EVP and Chief Business Officer Sadana Sumit sold 34,792 shares of the business’s stock. A total of $4,194,921 was realized by selling the stock at an average price of $120.57. This leaves the insider owning 230,048 shares of the company worth $28.3 million. A total of 0.65% of the company’s stock is owned by insiders.
During the past 12 months, Micron Technology Inc. has had a low of $60.06 and a high of $130.54. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 3.74, and a quick ratio of 2.40.
The net profit margin was -20.57% and return on equity was -8.27% for MU. The company reported revenue of $5.82 billion for the quarter, compared to $3.69 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.7 percent.
