Credit Capital Investments LLC Has $4.65 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Credit Capital Investments LLC cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,301 shares of the semiconductor manufacturer’s stock after selling 3,000 shares during the quarter. Micron Technology accounts for about 6.0% of Credit Capital Investments LLC’s portfolio, making the stock its 7th biggest holding. Credit Capital Investments LLC’s holdings in Micron Technology were worth $4,654,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC grew its stake in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares in the last quarter. True Wealth Design LLC grew its stake in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. Beacon Capital Management LLC grew its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $39,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $33,000. 80.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Cantor Fitzgerald cut their price objective on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. TD Cowen cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a research report on Monday. Robert W. Baird cut their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, Wells Fargo & Company cut their price objective on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.16.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $101.72 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The business has a fifty day moving average price of $96.79 and a two-hundred day moving average price of $98.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a market capitalization of $113.33 billion, a PE ratio of 29.31 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter last year, the company posted ($0.95) EPS. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 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.