Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Investment House LLC

Investment House LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 56.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,070 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,174 shares during the quarter. Investment House LLC’s holdings in Micron Technology were worth $3,288,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MU. Stone House Investment Management LLC grew its position 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 valued at $34,000 after buying an additional 277 shares during the last quarter. True Wealth Design LLC grew its position 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 valued at $33,000 after buying an additional 296 shares during the last quarter. Beacon Capital Management LLC grew its position in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Micron Technology in the 3rd quarter valued at $39,000. Finally, Midwest Capital Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at $33,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Down 1.3 %

Shares of MU stock opened at $101.72 on Wednesday. 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 company has a market capitalization of $113.33 billion, a price-to-earnings ratio of 29.31 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

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

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MU shares. Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a research report on Monday. Cantor Fitzgerald lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group lifted their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday. Sanford C. Bernstein decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.16.

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.