Micron Technology, Inc. (NASDAQ:MU) Holdings Cut by NBC Securities Inc.

NBC Securities Inc. decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,229 shares of the semiconductor manufacturer’s stock after selling 565 shares during the quarter. NBC Securities Inc.’s holdings in Micron Technology were worth $1,795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Micron Technology during the 4th quarter valued at $769,372,000. Wellington Management Group LLP raised its holdings in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares in the last quarter. Morgan Stanley raised its holdings in shares of Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after purchasing an additional 2,852,688 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Micron Technology by 125.0% during the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after purchasing an additional 2,523,267 shares in the last quarter. Finally, Phoenix Holdings Ltd. raised its holdings in shares of Micron Technology by 8,336.6% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock valued at $117,762,000 after purchasing an additional 1,753,262 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $120.00, for a total value of $5,400,000.00. Following the completion of the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $89,226,840. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $120.00, for a total value of $5,400,000.00. Following the completion of the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $89,226,840. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 320,446 shares of company stock valued at $38,724,533 in the last ninety days. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MU shares. Rosenblatt Securities restated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a report on Monday, March 18th. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Mizuho raised their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and raised their target price for the company from $115.00 to $150.00 in a research note on Monday, May 6th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $137.92.

Micron Technology Stock Up 3.8 %

Shares of MU stock opened at $153.45 on Thursday. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $157.54. The firm has a 50-day moving average price of $125.23 and a 200 day moving average price of $103.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the firm posted ($2.03) EPS. The firm’s quarterly revenue was up 57.7% on a year-over-year basis. On average, research analysts predict that Micron Technology, Inc. will post 0.3 earnings per share for the current fiscal year.

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.