KG&L Capital Management LLC Trims Stock Position in Micron Technology, Inc. (NASDAQ:MU)

KG&L Capital Management LLC trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,637 shares of the semiconductor manufacturer’s stock after selling 320 shares during the quarter. KG&L Capital Management LLC’s holdings in Micron Technology were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. E Fund Management Co. Ltd. boosted its stake in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after buying an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock valued at $1,193,000 after acquiring an additional 4,264 shares during the period. Landscape Capital Management L.L.C. boosted its position in shares of Micron Technology by 167.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock worth $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Duquesne Family Office LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $34,412,000. Finally, Janus Henderson Group PLC grew its stake in shares of Micron Technology by 74.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock worth $222,779,000 after purchasing an additional 1,130,680 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MU. Wedbush boosted their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Wall Street Zen upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Barclays decreased their price target on Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Finally, Royal Bank Of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $126.75.

Insiders Place Their Bets

In other news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 186,353 shares in the company, valued at approximately $20,498,830. The trade was a 9.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,404 shares of company stock worth $4,130,167 in the last three months. 0.30% of the stock is owned by insiders.

Micron Technology Price Performance

Shares of MU stock opened at $127.25 on Thursday. The firm has a fifty day simple moving average of $96.45 and a 200-day simple moving average of $93.89. The company has a market capitalization of $142.21 billion, a PE ratio of 30.52 and a beta of 1.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $144.07. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.83 billion. During the same period in the prior year, the company posted $0.62 EPS. Equities research analysts anticipate 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.