Boston Private Wealth LLC Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Boston Private Wealth LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,613 shares of the semiconductor manufacturer’s stock after acquiring an additional 326 shares during the quarter. Boston Private Wealth LLC’s holdings in Micron Technology were worth $760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MU. OLD Mission Capital LLC purchased a new stake in Micron Technology in the third quarter worth $251,000. Flputnam Investment Management Co. purchased a new stake in Micron Technology in the fourth quarter worth $269,000. Dynamic Advisor Solutions LLC purchased a new stake in Micron Technology in the fourth quarter worth $349,000. CIBC Asset Management Inc increased its position in Micron Technology by 6.8% in the fourth quarter. CIBC Asset Management Inc now owns 184,029 shares of the semiconductor manufacturer’s stock worth $13,835,000 after buying an additional 11,653 shares during the last quarter. Finally, First Interstate Bank purchased a new stake in Micron Technology in the fourth quarter worth $226,000. 80.41% of the stock is owned by institutional investors.

In related news, EVP Scott J. Deboer sold 25,089 shares of the business’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $93.31, for a total transaction of $2,341,054.59. Following the transaction, the executive vice president now owns 155,042 shares in the company, valued at approximately $14,466,969.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 31,490 shares of the business’s stock in a transaction dated Wednesday, May 19th. The shares were 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 owns 125,625 shares in the company, valued at approximately $9,965,831.25. The disclosure for this sale can be found here. In the last three months, insiders sold 98,997 shares of company stock valued at $8,454,200. 0.30% of the stock is currently owned by corporate insiders.

A number of analysts have issued reports on MU shares. The Goldman Sachs Group reissued a “buy” rating and issued a $122.00 target price (up from $118.00) on shares of Micron Technology in a research report on Thursday, April 1st. Susquehanna raised their target price on Micron Technology from $145.00 to $150.00 and gave the stock a “positive” rating in a research report on Thursday, April 1st. TheStreet upgraded Micron Technology from a “c+” rating to a “b” rating in a research report on Wednesday, March 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a research report on Monday, March 29th. Finally, Citigroup lifted their price target on Micron Technology from $130.00 to $135.00 in a research report on Thursday, April 1st. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $107.29.

Shares of MU stock opened at $79.28 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.18. The business’s 50-day moving average price is $85.48. Micron Technology, Inc. has a 12-month low of $42.25 and a 12-month high of $96.96. The company has a market capitalization of $88.91 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 1.02 and a beta of 1.25.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, March 30th. The semiconductor manufacturer reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. Micron Technology had a return on equity of 9.81% and a net margin of 13.60%. The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the company posted $0.45 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 5.27 earnings per share 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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