Fisher Asset Management LLC Decreases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Fisher Asset Management LLC cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,973 shares of the semiconductor manufacturer’s stock after selling 188 shares during the period. Fisher Asset Management LLC’s holdings in Micron Technology were worth $6,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. Tidemark LLC purchased a new position in Micron Technology in the fourth quarter valued at $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC acquired a new stake in Micron Technology in the fourth quarter valued at $29,000. VisionPoint Advisory Group LLC raised its stake in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares in the last quarter. Finally, Clear Street Markets LLC raised its stake in Micron Technology by 67.5% in the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after buying an additional 251 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Up 3.8 %

Shares of MU opened at $153.45 on Thursday. The stock has a fifty day moving average of $125.23 and a two-hundred day moving average of $103.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a market capitalization of $169.93 billion, a PE ratio of -44.48 and a beta of 1.21. Micron Technology, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.03) EPS. As a group, analysts forecast that Micron Technology, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Micron Technology

In other news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now directly owns 319,119 shares in the company, valued at approximately $38,032,602.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total transaction of $941,990.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $96,762,423.93. The disclosure for this sale can be found here. Insiders sold a total of 320,446 shares of company stock worth $38,724,533 in the last ninety days. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on MU shares. Cantor Fitzgerald lifted their target price on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Robert W. Baird upgraded Micron Technology from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $115.00 to $150.00 in a research report on Monday, May 6th. Mizuho boosted their price target on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Piper Sandler boosted their price target on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.92.

About Micron Technology

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.