Micron Technology, Inc. (NASDAQ:MU) Shares Sold by IFP Advisors Inc

IFP Advisors Inc reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 17.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,124 shares of the semiconductor manufacturer’s stock after selling 1,993 shares during the period. IFP Advisors Inc’s holdings in Micron Technology were worth $808,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Clearview Wealth Advisors LLC bought a new position in Micron Technology during the 4th quarter worth $27,000. Vigilant Capital Management LLC bought a new position in Micron Technology during the 1st quarter worth $28,000. JJJ Advisors Inc. grew its stake in Micron Technology by 98.7% during the 1st quarter. JJJ Advisors Inc. now owns 314 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 156 shares during the last quarter. DB Wealth Management Group LLC bought a new position in Micron Technology during the 4th quarter worth $30,000. Finally, Sugarloaf Wealth Management LLC bought a new position in Micron Technology during the 4th quarter worth $34,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of Micron Technology stock opened at $80.68 on Wednesday. The stock has a 50-day moving average price of $88.75 and a 200 day moving average price of $78.27. The company has a market cap of $90.48 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.73 and a beta of 1.37. The company has a current ratio of 2.91, a quick ratio of 1.94 and a debt-to-equity ratio of 0.16. Micron Technology, Inc. has a 1 year low of $42.25 and a 1 year high of $96.96.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, March 30th. The semiconductor manufacturer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.03. Micron Technology had a return on equity of 8.46% and a net margin of 13.59%. The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the prior year, the business earned $0.45 EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 3.64 earnings per share for the current fiscal year.

MU has been the subject of several recent analyst reports. BMO Capital Markets increased their price target 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. Royal Bank of Canada increased their price target on Micron Technology from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 1st. Robert W. Baird increased their price target on Micron Technology from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 1st. Cowen increased their price target on Micron Technology from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, April 1st. Finally, Cascend Securities increased their price target on Micron Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Micron Technology presently has a consensus rating of “Buy” and an average target price of $107.74.

In other Micron Technology news, SVP April S. Arnzen sold 8,300 shares of the company’s stock in a transaction dated Thursday, March 25th. The stock was sold at an average price of $80.95, for a total value of $671,885.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Zinsner sold 8,050 shares of the company’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $87.90, for a total value of $707,595.00. Following the completion of the transaction, the chief financial officer now directly owns 133,464 shares in the company, valued at $11,731,485.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,507 shares of company stock worth $6,055,125. Insiders own 0.18% of the company’s stock.

About Micron Technology

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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