Global Assets Advisory LLC Purchases Shares of 4,864 Micron Technology, Inc. (NASDAQ:MU)

Global Assets Advisory LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,864 shares of the semiconductor manufacturer’s stock, valued at approximately $423,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock worth $8,403,982,000 after purchasing an additional 888,087 shares during the period. FMR LLC grew its holdings in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the period. Capital World Investors grew its holdings in shares of Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC grew its holdings in shares of Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock worth $2,052,973,000 after purchasing an additional 726,282 shares during the period. Finally, Norges Bank purchased a new stake in shares of Micron Technology during the 4th quarter worth about $1,470,875,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Barclays decreased their target price on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Robert W. Baird boosted their price target on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Rosenblatt Securities reissued a “buy” rating and set a $172.00 price target on shares of Micron Technology in a research report on Monday. Finally, Morgan Stanley reduced their price target on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.75.

Micron Technology Stock Performance

Shares of MU opened at $127.25 on Thursday. The business’s 50 day moving average is $96.45 and its two-hundred day moving average is $93.89. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $144.07. The firm has a market cap of $142.21 billion, a price-to-earnings ratio of 30.52 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. During the same period in the prior year, the company posted $0.62 EPS. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,996,320. This represents a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 186,353 shares of the company’s stock, valued at approximately $20,498,830. The trade was 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 have sold 37,404 shares of company stock valued at $4,130,167. Corporate insiders own 0.30% of the company’s stock.

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.