248,600 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Global Assets Advisory LLC

Global Assets Advisory LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU) during the first quarter, Holdings Channel.com reports. The fund purchased 248,600 shares of the semiconductor manufacturer’s stock, valued at approximately $29,307,000.

A number of other hedge funds also recently modified their holdings of the stock. Merlin Capital Inc bought a new stake in Micron Technology during the 3rd quarter valued at $407,000. TCW Group Inc. raised its holdings in Micron Technology by 5.7% during the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after acquiring an additional 28,649 shares during the period. Gulf International Bank UK Ltd raised its holdings in Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after acquiring an additional 5,958 shares during the period. Savoie Capital LLC bought a new stake in Micron Technology during the 3rd quarter valued at $4,229,000. Finally, TrinityPoint Wealth LLC raised its holdings in Micron Technology by 33.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after acquiring an additional 8,736 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total value of $854,630.00. Following the completion of the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction of $854,630.00. Following the sale, the chief executive officer now owns 743,557 shares in the company, valued at $90,780,874.13. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 309,730 shares of company stock valued at $38,545,301. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $139.01 on Tuesday. The company has a market cap of $153.94 billion, a price-to-earnings ratio of -40.29 and a beta of 1.21. The company has a 50-day moving average price of $126.26 and a 200-day moving average price of $104.80. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $157.54.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TD Cowen boosted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Wolfe Research boosted their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Robert W. Baird boosted their price target on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research report on Monday. Wedbush boosted their price target on shares of Micron Technology from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, June 18th. Finally, Susquehanna boosted their price target on shares of Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.60.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.