Navis Wealth Advisors LLC Buys New Position in Micron Technology, Inc. (NASDAQ:MU)

Navis Wealth Advisors LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,210 shares of the semiconductor manufacturer’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new stake in Micron Technology during the 4th quarter worth about $26,000. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter worth approximately $33,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology in the 1st quarter worth approximately $33,000. Curio Wealth LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at $34,000. Finally, Hurley Capital LLC purchased a new position in Micron Technology in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MU. Wall Street Zen upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Wells Fargo & Company raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating and increased their price target for the company from $130.00 to $150.00 in a research report on Friday. Rosenblatt Securities reissued a “buy” rating and set a $172.00 target price on shares of Micron Technology in a research note on Monday. Robert W. Baird boosted their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target of $126.75.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 5,210 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $121.35, for a total value of $632,233.50. Following the completion of the transaction, the chief executive officer now owns 379,675 shares of the company’s stock, valued at $46,073,561.25. This trade represents a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president now directly owns 186,353 shares of the company’s stock, valued at approximately $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,404 shares of company stock worth $4,130,167. 0.30% of the stock is currently owned by company insiders.

Micron Technology Trading Down 1.2%

MU opened at $122.08 on Tuesday. The stock has a market capitalization of $136.43 billion, a PE ratio of 29.28 and a beta of 1.28. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $144.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. The business’s 50 day moving average price is $94.15 and its 200 day moving average price is $93.42.

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.