Envestnet Portfolio Solutions Inc. Sells 2,618 Shares of Micron Technology, Inc. (NASDAQ:MU)

Envestnet Portfolio Solutions Inc. decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 9.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,716 shares of the semiconductor manufacturer’s stock after selling 2,618 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Micron Technology were worth $1,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Stonebrook Private Inc. boosted its position in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after acquiring an additional 98 shares during the last quarter. John G Ullman & Associates Inc. lifted its position in Micron Technology by 2.5% in the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares during the last quarter. Trivant Custom Portfolio Group LLC lifted its position in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after buying an additional 100 shares during the last quarter. Xcel Wealth Management LLC lifted its position in Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after buying an additional 108 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after buying an additional 108 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’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 value of $223,403.72. Following the completion of the transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MU. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Stifel Nicolaus reduced their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC reduced their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Sanford C. Bernstein reduced their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Finally, UBS Group increased their target price on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $134.16.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $103.00 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market cap of $114.76 billion, a PE ratio of 29.68 and a beta of 1.23. The business has a 50-day simple moving average of $96.92 and a two-hundred day simple moving average of $98.22. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal 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.