Micron Technology, Inc. (NASDAQ:MU) Stake Lifted by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 8.0% in the 1st quarter, HoldingsChannel reports. The fund owned 11,053 shares of the semiconductor manufacturer’s stock after acquiring an additional 815 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Micron Technology were worth $1,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tidemark LLC acquired a new position in Micron Technology in the fourth quarter worth approximately $25,000. Pingora Partners LLC acquired a new position in Micron Technology in the fourth quarter worth approximately $26,000. Frank Rimerman Advisors LLC acquired a new position in Micron Technology in the fourth quarter worth approximately $29,000. VisionPoint Advisory Group LLC grew its position in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in Micron Technology in the first quarter worth approximately $39,000. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total transaction of $1,851,300.00. Following the transaction, the senior vice president now directly owns 138,387 shares in the company, valued at $17,079,723.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $109,496,781.72. The disclosure for this sale can be found here. Insiders have sold a total of 304,840 shares of company stock worth $37,961,924 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MU. The Goldman Sachs Group lifted their price target on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna lifted their price objective on shares of Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research report on Monday, June 17th. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Wedbush reiterated an “outperform” rating and set a $170.00 price objective on shares of Micron Technology in a research report on Thursday. Two 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $158.52.

Micron Technology Stock Performance

NASDAQ MU opened at $132.23 on Friday. The stock has a market cap of $146.43 billion, a P/E ratio of -93.12 and a beta of 1.21. The company’s 50-day simple moving average is $127.16 and its 200 day simple moving average is $105.52. Micron Technology, Inc. has a twelve month low of $60.50 and a twelve month high of $157.54. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.03%. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.57) earnings per share. As a group, research analysts forecast that Micron Technology, Inc. will post 0.35 earnings per share for the current fiscal year.

Micron Technology Company Profile

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.