Strategy Asset Managers LLC Acquires Shares of 2,381 Micron Technology, Inc. (NASDAQ:MU)

Strategy Asset Managers LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,381 shares of the semiconductor manufacturer’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Trust Asset Management LLC bought a new position in shares of Micron Technology in the 1st quarter valued at $79,000. Nisa Investment Advisors LLC increased its stake in shares of Micron Technology by 1.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 401,883 shares of the semiconductor manufacturer’s stock valued at $35,450,000 after purchasing an additional 5,029 shares during the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of Micron Technology by 24.8% in the 1st quarter. Virginia Retirement Systems ET AL now owns 588,400 shares of the semiconductor manufacturer’s stock valued at $51,903,000 after purchasing an additional 116,800 shares during the last quarter. EULAV Asset Management increased its stake in shares of Micron Technology by 22.2% in the 1st quarter. EULAV Asset Management now owns 165,085 shares of the semiconductor manufacturer’s stock valued at $14,562,000 after purchasing an additional 29,987 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co increased its stake in shares of Micron Technology by 3.3% in the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 39,240 shares of the semiconductor manufacturer’s stock valued at $3,461,000 after purchasing an additional 1,253 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

MU has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Micron Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, April 1st. Susquehanna boosted their price objective on Micron Technology from $145.00 to $150.00 and gave the stock a “positive” rating in a research report on Thursday, April 1st. BMO Capital Markets boosted their price objective on Micron Technology from $80.00 to $90.00 and gave the stock a “market perform” rating in a research report on Monday, March 29th. Wedbush boosted their price objective on Micron Technology from $100.00 to $105.00 and gave the stock a “positive” rating in a research report on Thursday, April 1st. Finally, Susquehanna Bancshares boosted their price objective on Micron Technology from $145.00 to $150.00 and gave the stock a “positive” rating in a research report on Thursday, April 1st. Five investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $107.29.

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

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, March 30th. The semiconductor manufacturer reported $0.98 earnings per share for the quarter, topping 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 business had revenue of $6.24 billion for 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. Equities analysts predict that Micron Technology, Inc. will post 5.27 EPS for the current year.

In other Micron Technology news, EVP Scott J. Deboer sold 25,089 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 155,042 shares of the company’s stock, valued at approximately $14,466,969.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joel L. Poppen sold 4,984 shares of the business’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $95.65, for a total value of $476,719.60. Following the sale, the senior vice president now directly owns 257,197 shares of the company’s stock, valued at $24,600,893.05. The disclosure for this sale can be found here. Insiders have sold a total of 98,997 shares of company stock valued at $8,454,200 over the last three months. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Company 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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