Corient Private Wealth LLC Trims Stake in Micron Technology, Inc. (NASDAQ:MU)

Corient Private Wealth LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 32.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,044 shares of the semiconductor manufacturer’s stock after selling 141,798 shares during the quarter. Corient Private Wealth LLC’s holdings in Micron Technology were worth $24,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. State Street Corp boosted its stake in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after buying an additional 206,499 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after buying an additional 2,022,180 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after buying an additional 144,897 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MU. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. UBS Group increased their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday. Wedbush restated an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a research report on Monday. JPMorgan Chase & Co. reduced their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Mizuho reduced their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

Micron Technology Stock Performance

MU opened at $101.72 on Wednesday. The stock has a market capitalization of $113.33 billion, a price-to-earnings ratio of 29.31 and a beta of 1.23. The company has a fifty day moving average of $96.79 and a 200 day moving average of $98.16. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the company posted ($0.95) earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on 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 owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

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.