2,081 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Collective Family Office LLC

Collective Family Office LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,081 shares of the semiconductor manufacturer’s stock, valued at approximately $245,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Micron Technology during the fourth quarter valued at approximately $769,372,000. Wellington Management Group LLP raised its position in Micron Technology by 43.4% during the third 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 during the period. Morgan Stanley raised its position in Micron Technology by 19.7% during the third 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 during the period. California Public Employees Retirement System raised its position in Micron Technology by 125.0% during the fourth 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 during the period. Finally, Phoenix Holdings Ltd. raised its position in Micron Technology by 8,336.6% during the third 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 during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MU has been the topic of a number of analyst reports. Mizuho upped their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Wells Fargo & Company upped their target price on Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC upped their target price on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Barclays increased their price objective on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, Robert W. Baird raised Micron Technology from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $115.00 to $150.00 in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.12.

Micron Technology Stock Performance

Shares of MU opened at $144.19 on Friday. The stock has a 50-day moving average of $125.56 and a two-hundred day moving average of $103.45. Micron Technology, Inc. has a one year low of $60.50 and a one year high of $157.54. 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 stock has a market cap of $159.67 billion, a P/E ratio of -41.79 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the firm posted ($2.03) EPS. The firm’s revenue was up 57.7% compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 0.3 EPS for the current year.

Insiders Place Their Bets

In other news, 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 value of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total value of $941,990.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $96,762,423.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value 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 approximately $17,753,868.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,446 shares of company stock valued at $38,724,533. 0.32% of the stock is owned by company insiders.

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.