Boston, MA 06\/10\/2014 (wallstreetpr) \u2013 Manufacturer of semiconductor devices Micron Technology, Inc. (NASDAQ:MU)<\/b> has witnessed an insider selling his shares possibly taking advantage of the price, which is close to a yearly high price.<\/p>\n
Insider Trading<\/b><\/p>\n
The company’s director Lawrence Mondry has resorted to selling 10K shares on June 5 at an average price of $29.10. It has enabled him to realize the amount of $291K, as per the company\u2019s disclosure to Securities Exchange Commission, which is a mandatory whenever a senior management executive sells shares.<\/p>\n
As a result of the latest sale, Lawrence Mondry\u2019s holding in Micron Technology, Inc. (NASDAQ:MU) has reduced to a little over 165K shares. His holding is worth about $4.82 million. Significantly, shares reached a high of $29.72 and a low of $12.31 in the last one year period.<\/p>\n
On a technical barometer, shares of the company are currently trading above 52-day as well as 200-day moving averages of $27.08 and $24.11 respectively. It could very well mean that the stock has the potential to extend its bull run on any favorable catalyst.<\/p>\n
Rating<\/b><\/p>\n
The consensus rating among analysts is buying with an average price tag of $26.72. While 17 analysts have rated the stock as a Buy with two analysts preferring a Strong Buy, eight analysts have kept the rating of Hold. Only two analysts have kept the rating of Sell for Micron Technology, Inc. (NASDAQ:MU) shares.<\/p>\n
Interestingly, RBC Capital has upgraded the company\u2019s stock to outperform rating from Sector Perform a few weeks ago. They have also lifted their price tag to $34.00 from $27.00. Similarly, ING Group analyst has also upgraded Micron Technology shares to Outperform from Sector Perform rating.<\/p>\n
Expectations on 3Q<\/b><\/p>\n
The company will release its third quarter results on June 23 after the market closes. Street analysts expect the semiconductor device maker to earn 68 cents a share on revenues of $3.87 billion for the third quarter. In the last two quarters, Micron Technology, Inc. (NASDAQ:MU)\u2019s earnings topped analysts\u2019 expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 06\/10\/2014 (wallstreetpr) \u2013 Manufacturer of semiconductor devices Micron Technology, Inc. (NASDAQ:MU) has witnessed an insider selling his shares possibly taking advantage of the […]<\/p>\n","protected":false},"author":3,"featured_media":24240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[2674,3270,2675],"stock_ticker":[],"class_list":["post-25285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-micron-technology-inc-nasdaqmu","tag-micron-technology-inc","tag-nasdaqmu","entry"],"acf":[],"yoast_head":"\n