Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 85.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,063 shares of the semiconductor manufacturer’s stock after selling 17,895 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Micron Technology were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Beacon Capital Management LLC boosted its position 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 buying an additional 200 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of 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 acquiring an additional 296 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $33,000. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the last quarter. Finally, Activest Wealth Management lifted its position in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MU shares. Sanford C. Bernstein cut their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Morgan Stanley lowered their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus cut their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Wedbush reissued an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a report on Monday. 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 stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $134.16.

Micron Technology Stock Up 0.9 %

MU stock opened at $103.00 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $96.92 and a two-hundred day moving average of $98.22. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a market cap of $114.76 billion, a price-to-earnings ratio of 29.68 and a beta of 1.23.

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

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

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.