MV Capital Management Inc. Makes New $8.27 Million Investment in Micron Technology, Inc. $MU

MV Capital Management Inc. purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,965 shares of the semiconductor manufacturer’s stock, valued at approximately $8,267,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MU. Vinland Capital Management Gestora de Recursos LTDA. bought a new stake in shares of Micron Technology in the fourth quarter worth $140,000. Cambient Family Office LLC acquired a new position in Micron Technology during the fourth quarter worth $657,000. Wick Capital Partners LLC bought a new position in Micron Technology in the fourth quarter valued at $7,122,000. Mcguire Capital Advisors Inc. bought a new stake in Micron Technology during the 4th quarter worth about $1,698,000. Finally, Compound Planning Inc. lifted its position in Micron Technology by 22.2% during the 4th quarter. Compound Planning Inc. now owns 13,837 shares of the semiconductor manufacturer’s stock worth $3,949,000 after buying an additional 2,517 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Micron Technology

Here are the key news stories impacting Micron Technology this week:

Micron Technology Price Performance

Shares of NASDAQ MU opened at $1,133.99 on Friday. The business’s 50 day moving average price is $733.54 and its two-hundred day moving average price is $488.89. The company has a market cap of $1.28 trillion, a PE ratio of 53.54 and a beta of 2.16. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,149.43.

Micron Technology (NASDAQ:MUGet Free Report) last released its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The firm had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same quarter in the prior year, the company earned $1.56 earnings per share. The business’s revenue for the quarter was up 196 compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post 59.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MU shares. Melius Research assumed coverage on shares of Micron Technology in a research note on Monday, April 27th. They set a “buy” rating and a $700.00 price objective for the company. Morgan Stanley lifted their target price on Micron Technology from $520.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group upped their target price on Micron Technology from $400.00 to $900.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. Stifel Nicolaus increased their price target on Micron Technology from $550.00 to $1,500.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup raised their price target on Micron Technology from $840.00 to $1,200.00 and gave the company a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $913.47.

Check Out Our Latest Stock Report on Micron Technology

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is owned by insiders.

About Micron Technology

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

See Also

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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