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Scott J. Deboer, Executive Vice President, CTO, and Products Officer at Micron Technology Inc. (NASDAQ:MU), has sold 23,047 shares of the company’s common stock. The transaction, valued at approximately $2.3 million, was executed at a price of $100 per share, slightly below the current trading price of $104.36. The stock has shown remarkable strength, gaining over 16% in the past week. Following this sale, Deboer retains ownership of 208,666 shares. This transaction was carried out under a Rule 10b5-1 trading plan that Deboer adopted on October 31, 2024. According to InvestingPro analysis, Micron maintains a Fair overall financial health score, with analysts maintaining a bullish consensus on the stock. The company is currently trading near its InvestingPro Fair Value, with 8 additional exclusive insights available to subscribers.
In other recent news, Micron Technology has completed a $1 billion senior note offering, with the notes carrying a 5.80% interest rate and due in 2035. The company plans to use the proceeds to redeem its outstanding 4.975% Senior Notes due 2026 and for general corporate purposes. At a recent investor conference, Micron’s management indicated an anticipated decline in fiscal third-quarter gross margins due to a shift towards consumer products and weaker pricing in the DDR4 and NAND markets. Despite these challenges, both Raymond (NSE:RYMD) James and Citi maintain positive ratings on Micron, with Raymond James setting an Outperform rating and a $120 price target, and Citi maintaining a Buy rating with a $150 price target.
Analysts have adjusted their financial models, with Raymond James revising its fiscal third-quarter gross margin estimate to 35.4% and Citi reducing its forecast for the fiscal third quarter of 2025 to 35.0%. Micron’s management remains optimistic about future improvements in gross margins and inventory normalization by spring. The company is also focused on the potential of High Bandwidth (NASDAQ:BAND) Memory (HBM) and aims to achieve a market share comparable to its broader DRAM share by the second half of 2025. Meanwhile, SK Hynix, a competitor, plans to increase capital expenditure in 2025, focusing on HBM and fabrication infrastructure. Micron’s recent financial activities and strategic focus on HBM highlight its efforts to navigate current market challenges and capitalize on future opportunities.
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