Balasa Dinverno & Foltz LLC Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Balasa Dinverno & Foltz LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 68,775 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,125 shares during the period. Micron Technology comprises 0.4% of Balasa Dinverno & Foltz LLC’s investment portfolio, making the stock its 24th biggest holding. Balasa Dinverno & Foltz LLC’s holdings in Micron Technology were worth $3,699,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Doyle Wealth Management purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $30,000. Whittier Trust Co. increased its stake in Micron Technology by 115.2% during the 3rd quarter. Whittier Trust Co. now owns 794 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 425 shares during the period. Griffin Asset Management Inc. purchased a new stake in Micron Technology during the 2nd quarter worth approximately $39,000. North Star Investment Management Corp. purchased a new stake in Micron Technology during the 3rd quarter worth approximately $44,000. Finally, HM Payson & Co. purchased a new stake in Micron Technology during the 2nd quarter worth approximately $51,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of Micron Technology stock opened at $58.97 on Wednesday. The company has a fifty day simple moving average of $53.74 and a 200-day simple moving average of $47.68. Micron Technology, Inc. has a 12-month low of $32.14 and a 12-month high of $58.48. The company has a current ratio of 2.56, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. The stock has a market cap of $63.90 billion, a price-to-earnings ratio of 19.15 and a beta of 1.98.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Micron Technology had a net margin of 17.01% and a return on equity of 11.36%. Micron Technology’s quarterly revenue was down 35.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.97 EPS. On average, analysts forecast that Micron Technology, Inc. will post 2.09 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on MU shares. Citigroup upped their target price on shares of Micron Technology from $35.00 to $38.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Micron Technology in a report on Thursday, December 19th. Credit Suisse Group reiterated a “buy” rating and set a $90.00 price target on shares of Micron Technology in a report on Thursday, December 19th. Nomura boosted their price target on shares of Micron Technology from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Wedbush upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $44.00 to $65.00 in a report on Tuesday, December 17th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Micron Technology presently has an average rating of “Buy” and a consensus price target of $62.38.

In other Micron Technology news, SVP Joel L. Poppen sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $56.97, for a total transaction of $1,139,400.00. Following the completion of the transaction, the senior vice president now owns 301,395 shares in the company, valued at approximately $17,170,473.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP April S. Arnzen sold 4,252 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $47.22, for a total transaction of $200,779.44. Following the completion of the transaction, the senior vice president now owns 101,439 shares of the company’s stock, valued at approximately $4,789,949.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,786 shares of company stock valued at $2,649,197. 0.18% of the stock is owned by company insiders.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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