MICRON TECHNOLOGY INC
MU · Nasdaq · CIK 0000723125
SIC 3674
Semiconductors & Related Devices
Category
Electronics
Entity
operating
Incorp.
DE
Fiscal Y/E
0903
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$795.52
+48.71 (+6.52%)
Open
$792.77
High
$818.67
Low
$768.00
Prev Close
$746.81
Volume
65,119,866
52W High
$651.74
52W Low
$83.16
50-day MA
$428.63
Quote as of: 2026-05-11
Market Cap
$721.98B
P/E
30.18
P/B
8.97
PEG
0.20
EPS
21.21
BPS
64.24
Dividend Yield
0.09%
Beta
1.92
ROE
15.76%
ROA
10.31%
D/E Ratio
0.53
Current Ratio
2.52
Gross Margin
48.94%
Operating Margin
32.15%
Net Margin
28.10%
Book Value/Share
$48.28
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (7 methods)
$81.25B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | $102.01B | +608% |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | $499.53B | +45% |
Justified P/E 순이익 × 산업 평균 P/E | $128.09B | +464% |
P/B 배수 자본 × 산업 평균 P/B | $81.25B | +789% |
P/S 배수 매출 × 산업 평균 P/S | $60.78B | +1088% |
DCF (Gordon) CF × (1+g) / (r − g) | $58.94B | +1125% |
DDM (Gordon) D × (1+g) / (r − g) | $18.44B | +3814% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 7 were applicable. Their median fair-value lands +788.6% below the current market cap → the stock trades above most formulas' estimates (overvalued). 7 methods flag overvalued, 0 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
Overvalued +607.7%√(22.5 × 순이익 × 자본)
Current
$721.98B
Implied fair
$102.01B
Gap (current − fair)
+$619.96B(+607.7%)
NetIncome = $8.54B Equity = $54.16B √(22.5 × $8.54B × $54.16B) = $102.01B
- 최대 PER 15배
- 최대 PBR 1.5배
- 안정적 흑자 기업 가정 (금융·고성장 부정확)
Graham Formula
Overvalued +44.5%순이익 × (8.5 + 2 × 성장률%)
Current
$721.98B
Implied fair
$499.53B
Gap (current − fair)
+$222.44B(+44.5%)
NetIncome = $8.54B Growth g = 997.6% → cap 25.0% Multiple = 8.5 + 2 × 25.0 = 58.5× $8.54B × 58.5 = $499.53B
- EPS 성장률 997.6%/년 가정 (직전 1년 기준)
- 무성장 기업 P/E = 8.5
- 현재 적용 배수: 58.5x
Justified P/E
Overvalued +463.7%순이익 × 산업 평균 P/E
Current
$721.98B
Implied fair
$128.09B
Gap (current − fair)
+$593.89B(+463.7%)
NetIncome = $8.54B Industry P/E = 15× $8.54B × 15 = $128.09B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
Overvalued +788.6%자본 × 산업 평균 P/B
Current
$721.98B
Implied fair
$81.25B
Gap (current − fair)
+$640.73B(+788.6%)
Equity = $54.16B Industry P/B = 1.5× $54.16B × 1.5 = $81.25B
- 산업 평균 PBR 1.5x 가정
- 은행·보험·자산집약적 산업에 특히 유효
P/S 배수
Overvalued +1087.8%매출 × 산업 평균 P/S
Current
$721.98B
Implied fair
$60.78B
Gap (current − fair)
+$661.19B(+1087.8%)
Revenue = $30.39B Industry P/S = 2× $30.39B × 2 = $60.78B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Overvalued +1125.0%CF × (1+g) / (r − g)
Current
$721.98B
Implied fair
$58.94B
Gap (current − fair)
+$663.04B(+1125.0%)
FCF = $1.67B Discount r = 4.0% + 5.0% = 9.0% Growth g = 6.0% $1.67B × (1 + 6.0%) / (9.0% − 6.0%) = $58.94B
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 6.0% (실질 GDP 수준)
DDM (Gordon)
Overvalued +3814.4%D × (1+g) / (r − g)
Current
$721.98B
Implied fair
$18.44B
Gap (current − fair)
+$703.53B(+3814.4%)
Dividend D = $522.00M Discount r = 9.0% Growth g = 6.0% $522.00M × (1 + 6.0%) / (9.0% − 6.0%) = $18.44B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 6.0%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +2471.3% | +2899.9% | +3328.4% | +3757.0% | +4185.5% |
| 2% | +2021.8% | +2446.1% | +2870.5% | +3294.8% | +3719.2% |
| 3% | +1580.9% | +2001.2% | +2421.4% | +2841.6% | +3261.9% |
| 4% | +1148.6% | +1564.8% | +1981.0% | +2397.1% | +2813.3% |
| 5% | +724.5% | +1136.7% | +1548.9% | +1961.1% | +2373.4% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +8116.4% | +9485.8% | +10855.2% | +12224.6% | +13594.0% |
| 2% | +6679.9% | +8035.8% | +9391.8% | +10747.8% | +12103.8% |
| 3% | +5271.2% | +6614.1% | +7956.9% | +9299.7% | +10642.5% |
| 4% | +3889.7% | +5219.6% | +6549.5% | +7879.4% | +9209.3% |
| 5% | +2534.5% | +3851.7% | +5168.9% | +6486.2% | +7803.4% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2025-10-03
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Cost of Revenue | 22,505 | 19,498 | 16,956 | 16,860 | 17,282 |
| Gross Profit | 14,873 | 5,613 | -1,416 | 13,898 | 10,423 |
| Operating Income | 9,770 | 1,304 | -5,745 | 9,702 | 6,283 |
| Net Income | 8,539 | 778 | -5,833 | 8,687 | 5,861 |
| EPS (Basic) | 7.65 | 0.70 | -5.34 | 7.81 | 5.23 |
| EPS (Diluted) | 7.59 | 0.70 | -5.34 | 7.75 | 5.14 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 82,798 | 69,416 | 64,254 | 66,283 | 58,849 |
| Current Assets | 28,841 | 24,372 | 21,244 | 21,781 | 19,907 |
| Cash & Equivalents | 9,642 | 7,041 | 8,577 | 8,262 | 7,763 |
| Total Liabilities | 28,633 | 24,285 | 20,134 | 16,376 | 14,916 |
| Current Liabilities | 11,454 | 9,248 | 4,765 | 7,539 | 6,424 |
| Long-term Debt | 11,533 | 11,343 | 12,049 | 6,020 | 5,968 |
| Total Equity | 54,165 | 45,131 | 44,120 | 49,907 | 43,933 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 17,525 | 8,507 | 1,559 | 15,181 | 12,468 |
| Investing CF | -14,087 | -8,309 | -6,191 | -11,585 | -10,589 |
| Financing CF | -850 | -1,842 | 4,983 | -2,980 | -1,781 |
| CapEx | 15,857 | 8,386 | 7,676 | 12,067 | 10,030 |
| Dividends Paid | 522 | 513 | 504 | 461 | — |
📄 SEC Filings
Current Report
FORM 8-K
2026-04-01
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Current Report
FORM 8-K
2026-03-25
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Quarterly Report
10-Q
2026-03-19
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Current Report
8-K
2026-03-18
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Current Report
FORM 8-K
2026-01-21
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Quarterly Report
10-Q
2025-12-18
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Current Report
8-K
2025-12-17
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Proxy Statement
DEF 14A
2025-11-25
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Current Report
FORM 8-K
2025-10-21
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Annual Report
10-K
2025-10-03
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Other filings (90)
Insider Transaction
PRIMARY DOCUMENT
2026-05-05
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Insider Transaction
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2026-05-05
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xsl144X01/primary_doc.xml
2026-05-01
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xsl144X01/primary_doc.xml
2026-05-01
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SCHEDULE 13G
xslSCHEDULE_13G_X02/primary_doc.xml
2026-04-30
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Insider Transaction
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2026-04-17
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S-8
FORM S-8
2026-04-17
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Insider Transaction
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2026-04-16
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Insider Transaction
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2026-04-14
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xsl144X01/primary_doc.xml
2026-04-14
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xsl144X01/primary_doc.xml
2026-04-14
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Insider Transaction
PRIMARY DOCUMENT
2026-04-13
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144
xsl144X01/primary_doc.xml
2026-04-10
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xsl144X01/primary_doc.xml
2026-04-09
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Insider Transaction
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2026-04-03
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Insider Transaction
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2026-04-02
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Insider Transaction
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2026-04-02
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144
xsl144X01/primary_doc.xml
2026-04-01
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SCHEDULE 13G/A
xslSCHEDULE_13G_X02/primary_doc.xml
2026-03-27
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SCHEDULE 13G/A
xslSCHEDULE_13G_X01/primary_doc.xml
2026-02-13
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Insider Transaction
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2026-02-04
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144
xsl144X01/primary_doc.xml
2026-02-02
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Insider Transaction
PRIMARY DOCUMENT
2026-01-29
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144
xsl144X01/primary_doc.xml
2026-01-27
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Insider Transaction
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2026-01-26
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Insider Transaction
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2026-01-26
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xsl144X01/primary_doc.xml
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Insider Transaction
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Insider Transaction
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Insider Transaction
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Insider Transaction
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2026-01-06
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xsl144X01/primary_doc.xml
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Insider Transaction
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2026-01-05
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Insider Transaction
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2026-01-05
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Insider Transaction
PRIMARY DOCUMENT
2025-12-29
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Insider Transaction
xslF345X05/form4-12242025_121259.xml
2025-12-23
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Insider Transaction
xslF345X05/form4-12242025_121251.xml
2025-12-23
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144
xsl144X01/primary_doc.xml
2025-12-22
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144
xsl144X01/primary_doc.xml
2025-12-19
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ARS
ARS
2025-11-25
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DEFA14A
DEFA14A
2025-11-25
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PRE 14A
PRE 14A
2025-11-13
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Insider Transaction
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2025-11-10
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144
xsl144X01/primary_doc.xml
2025-11-06
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Insider Transaction
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2025-11-05
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Insider Transaction
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2025-11-03
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Insider Transaction
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2025-10-31
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144
xsl144X01/primary_doc.xml
2025-10-30
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Insider Transaction
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2025-10-29
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Insider Transaction
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2025-10-29
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xsl144X01/primary_doc.xml
2025-10-29
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xsl144X01/primary_doc.xml
2025-10-27
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xsl144X01/primary_doc.xml
2025-10-27
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Insider Transaction
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2025-10-22
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Insider Transaction
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2025-10-21
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Insider Transaction
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2025-10-20
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144
xsl144X01/primary_doc.xml
2025-10-20
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xsl144X01/primary_doc.xml
2025-10-20
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xsl144X01/primary_doc.xml
2025-10-16
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-15
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Insider Transaction
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2025-10-07
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xsl144X01/primary_doc.xml
2025-10-06
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Insider Transaction
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2025-10-03
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xsl144X01/primary_doc.xml
2025-10-03
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5
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2025-10-02
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5
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2025-10-02
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Insider Transaction
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2025-10-02
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Insider Transaction
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2025-10-02
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Insider Transaction
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2025-10-02
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144
xsl144X01/primary_doc.xml
2025-10-01
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144
xsl144X01/primary_doc.xml
2025-09-30
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Insider Transaction
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2025-09-29
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