Harbour Investments Inc. Buys 1,474 Shares of Micron Technology, Inc. (NASDAQ:MU)

Harbour Investments Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,443 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,474 shares during the period. Harbour Investments Inc.’s holdings in Micron Technology were worth $1,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares during the period. True Wealth Design LLC boosted its holdings in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the period. Midwest Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter worth approximately $33,000. Stone House Investment Management LLC boosted its holdings in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the period. Finally, Activest Wealth Management boosted its holdings in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares during the period. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. TD Cowen decreased their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Mizuho decreased their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.16.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Down 1.3 %

MU opened at $101.72 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average price of $96.79 and a 200-day moving average price of $98.16. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The stock has a market capitalization of $113.33 billion, a price-to-earnings ratio of 29.31 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the company earned ($0.95) earnings per share. The firm’s revenue was up 84.3% on a year-over-year basis. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

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.