2,381 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Strategy Asset Managers LLC

Strategy Asset Managers LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the first quarter, Holdings Channel reports. The firm purchased 2,381 shares of the semiconductor manufacturer’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. raised its position in Micron Technology by 13.0% during the first quarter. Jupiter Asset Management Ltd. now owns 210,365 shares of the semiconductor manufacturer’s stock valued at $18,559,000 after purchasing an additional 24,127 shares in the last quarter. Noked Israel Ltd purchased a new stake in Micron Technology during the first quarter valued at about $43,139,000. ING Groep NV raised its position in Micron Technology by 0.3% during the first quarter. ING Groep NV now owns 74,067 shares of the semiconductor manufacturer’s stock valued at $6,533,000 after purchasing an additional 228 shares in the last quarter. swisspartners Advisors Ltd raised its position in Micron Technology by 3.7% during the first quarter. swisspartners Advisors Ltd now owns 60,543 shares of the semiconductor manufacturer’s stock valued at $5,340,000 after purchasing an additional 2,150 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Micron Technology during the first quarter valued at about $205,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

In related news, SVP April S. Arnzen sold 8,300 shares of the business’s stock in a transaction that occurred on Thursday, March 25th. The shares were sold at an average price of $80.95, for a total value of $671,885.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joel L. Poppen sold 4,984 shares of the business’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $95.65, for a total transaction of $476,719.60. Following the completion of the transaction, the senior vice president now owns 257,197 shares of the company’s stock, valued at $24,600,893.05. The disclosure for this sale can be found here. Insiders have sold 98,997 shares of company stock valued at $8,454,200 over the last quarter. Company insiders own 0.30% of the company’s stock.

A number of research analysts have recently issued reports on MU shares. JPMorgan Chase & Co. raised their price objective on Micron Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 1st. Wedbush raised their price objective on Micron Technology from $100.00 to $105.00 and gave the company a “positive” rating in a research note on Thursday, April 1st. Cascend Securities raised their price objective on Micron Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, March 15th. BMO Capital Markets raised their price objective on Micron Technology from $80.00 to $90.00 and gave the company a “market perform” rating in a research note on Monday, March 29th. Finally, Morgan Stanley raised their price objective on Micron Technology from $88.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, March 1st. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Micron Technology presently has a consensus rating of “Buy” and an average price target of $107.29.

MU stock opened at $79.28 on Friday. The firm’s 50 day simple moving average is $85.48. Micron Technology, Inc. has a 52-week low of $42.25 and a 52-week high of $96.96. The stock has a market capitalization of $88.91 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. The company has a quick ratio of 2.31, a current ratio of 3.18 and a debt-to-equity ratio of 0.15.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, March 30th. The semiconductor manufacturer reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. Micron Technology had a net margin of 13.60% and a return on equity of 9.81%. The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the business earned $0.45 earnings per share. Analysts forecast that Micron Technology, Inc. will post 5.27 earnings per share for the current year.

Micron Technology 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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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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