MV Capital Management Inc. Raises Stake in Micron Technology, Inc. (NASDAQ:MU)

MV Capital Management Inc. raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 15.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,948 shares of the semiconductor manufacturer’s stock after buying an additional 3,380 shares during the quarter. MV Capital Management Inc.’s holdings in Micron Technology were worth $2,201,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MU. Better Money Decisions LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at $27,000. JJJ Advisors Inc. lifted its stake in shares of Micron Technology by 98.7% in the 1st quarter. JJJ Advisors Inc. now owns 314 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 156 shares during the last quarter. Vigilant Capital Management LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at $28,000. Larson Financial Group LLC lifted its stake in shares of Micron Technology by 4,133.3% in the 1st quarter. Larson Financial Group LLC now owns 381 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 372 shares during the last quarter. Finally, Trustcore Financial Services LLC lifted its stake in shares of Micron Technology by 780.0% in the 1st quarter. Trustcore Financial Services LLC now owns 396 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 351 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their price target on Micron Technology from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, March 3rd. Barclays increased their target price on Micron Technology from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, March 1st. Wedbush increased their target price on Micron Technology from $100.00 to $105.00 and gave the stock a “positive” rating in a research note on Thursday, April 1st. BMO Capital Markets increased their target price on Micron Technology from $80.00 to $90.00 and gave the stock a “market perform” rating in a research note on Monday, March 29th. Finally, Susquehanna Bancshares increased their target price on Micron Technology from $145.00 to $150.00 and gave the stock a “positive” rating in a research note on Thursday, April 1st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Micron Technology presently has an average rating of “Buy” and a consensus target price of $107.29.

In related news, CFO David Zinsner sold 8,050 shares of Micron Technology stock in a transaction on Monday, March 15th. The stock was sold at an average price of $87.52, for a total transaction of $704,536.00. Following the completion of the transaction, the chief financial officer now directly owns 128,724 shares of the company’s stock, valued at $11,265,924.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 31,490 shares of Micron Technology stock in a transaction on Wednesday, May 19th. The stock was sold at an average price of $79.33, for a total value of $2,498,101.70. Following the transaction, the executive vice president now directly owns 125,625 shares of the company’s stock, valued at $9,965,831.25. The disclosure for this sale can be found here. Insiders sold a total of 98,997 shares of company stock valued at $8,454,200 over the last three months. Insiders own 0.30% of the company’s stock.

Micron Technology stock traded up $0.22 during mid-day trading on Friday, reaching $79.50. 191,871 shares of the company were exchanged, compared to its average volume of 19,771,098. Micron Technology, Inc. has a twelve month low of $42.25 and a twelve month high of $96.96. The stock has a 50-day moving average price of $85.48. The company has a current ratio of 3.18, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $89.15 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.02 and a beta of 1.25.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, March 30th. The semiconductor manufacturer reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The company had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. Micron Technology had a return on equity of 9.81% and a net margin of 13.60%. During the same period last year, the firm earned $0.45 EPS. Sell-side analysts predict that Micron Technology, Inc. will post 5.27 EPS for the current fiscal year.

Micron Technology Profile

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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

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