Means Investment CO. Inc. cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,934 shares of the semiconductor manufacturer’s stock after selling 276 shares during the period. Means Investment CO. Inc.’s holdings in Micron Technology were worth $347,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of MU. Coastal Capital Group Inc. acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $75,000. Calamos Wealth Management LLC lifted its position in shares of Micron Technology by 7.8% in the 4th quarter. Calamos Wealth Management LLC now owns 86,092 shares of the semiconductor manufacturer’s stock worth $6,472,000 after purchasing an additional 6,234 shares during the period. AE Wealth Management LLC lifted its position in shares of Micron Technology by 30.6% in the 4th quarter. AE Wealth Management LLC now owns 49,670 shares of the semiconductor manufacturer’s stock worth $3,734,000 after purchasing an additional 11,646 shares during the period. Invictus RG acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $792,000. Finally, Safeguard Investment Advisory Group LLC acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $1,342,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
MU stock traded up $0.28 on Thursday, reaching $94.24. The company’s stock had a trading volume of 457,936 shares, compared to its average volume of 20,984,352. The business has a fifty day simple moving average of $89.32 and a two-hundred day simple moving average of $71.72. Micron Technology, Inc. has a 12-month low of $41.19 and a 12-month high of $96.10. The firm has a market cap of $105.42 billion, a PE ratio of 35.46, a PEG ratio of 1.73 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.94 and a current ratio of 2.91.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, March 30th. The semiconductor manufacturer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. Micron Technology had a return on equity of 8.46% and a net margin of 13.59%. During the same period last year, the business earned $0.45 earnings per share. As a group, research analysts anticipate that Micron Technology, Inc. will post 3.64 earnings per share for the current fiscal year.
Several analysts have recently weighed in on the stock. Smith Barney Citigroup lifted their price objective on shares of Micron Technology from $100.00 to $113.00 in a research note on Friday, January 8th. Summit Insights upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Friday, January 8th. Cascend Securities boosted their price target on shares of Micron Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, March 22nd. Zacks Investment Research raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective on the stock in a report on Monday, March 8th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on shares of Micron Technology from $130.00 to $135.00 in a report on Thursday, April 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Micron Technology presently has a consensus rating of “Buy” and an average price target of $107.74.
In other Micron Technology news, CFO David Zinsner sold 8,050 shares of the firm’s stock in a transaction on Friday, January 15th. The stock was sold at an average price of $80.89, for a total transaction of $651,164.50. Following the completion of the transaction, the chief financial officer now owns 137,264 shares of the company’s stock, valued at $11,103,284.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joel L. Poppen sold 4,985 shares of the firm’s stock in a transaction on Monday, January 11th. The shares were sold at an average price of $78.66, for a total value of $392,120.10. Following the transaction, the senior vice president now directly owns 301,918 shares of the company’s stock, valued at approximately $23,748,869.88. The disclosure for this sale can be found here. Insiders have sold 132,508 shares of company stock valued at $11,033,432 in the last three months. Insiders own 0.18% of the company’s stock.
Micron Technology Company Profile
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.
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