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Ray Michael Charles, Senior Vice President and Chief Legal Officer at Micron Technology Inc. (NASDAQ:MU), recently executed a sale of company shares valued at approximately $652,500. The transaction, which took place on February 14, involved the sale of 6,525 shares at a price of $100.00 per share. The stock has shown strong momentum, gaining over 16% in the past week, with the current trading price at $104.36. According to InvestingPro analysis, Micron remains undervalued despite its position as a prominent player in the semiconductor industry.
Following this sale, Charles retains ownership of 98,962 shares in the company. This transaction was conducted under a Rule 10b5-1 trading plan, which Charles adopted in July 2024. Additionally, the shares owned post-transaction include a small acquisition made under Micron’s Employee Stock Purchase Plan, exempt from certain reporting requirements. InvestingPro subscribers can access 8 additional key insights about Micron’s financial health and growth prospects through the comprehensive Pro Research Report, available exclusively on the platform.
In other recent news, Micron Technology has completed a $1 billion senior note offering with a 5.80% interest rate due in 2035, as part of its broader capital management strategy. The proceeds will be used to redeem existing 4.975% Senior Notes due 2026 and for general corporate purposes. Despite announcing a revenue growth forecast for the upcoming quarter, Micron has raised concerns over declining gross margins, attributed to a shift towards consumer products and underutilization of NAND production capabilities. Raymond (NSE:RYMD) James and Citi have maintained positive ratings on Micron, with targets of $120 and $150, respectively, despite adjusting their gross margin forecasts downward. Raymond James highlighted potential growth in High Bandwidth (NASDAQ:BAND) Memory (HBM) as a significant factor in their positive outlook. Meanwhile, Citi analysts remain optimistic about a recovery in the DRAM market by spring. Micron’s management continues to focus on HBM, aiming for market share comparable to their broader DRAM share by the second half of 2025. The company’s financial activities and market strategies are closely monitored by investors, given the current challenges in the semiconductor landscape.
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