December 3, 2022

Tyna Woods

Technology does the job

Highland Private Wealth Management Makes New $217,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

Highland Private Wealth Management acquired a new position in Micron Technology, Inc. (NASDAQ:MUGet Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,331 shares of the semiconductor manufacturer’s stock, valued at approximately $217,000.

A number of other large investors have also recently added to or reduced their stakes in MU. TCI Wealth Advisors Inc. boosted its holdings in shares of Micron Technology by 51.3% in the 4th quarter. TCI Wealth Advisors Inc. now owns 1,475 shares of the semiconductor manufacturer’s stock worth $137,000 after purchasing an additional 500 shares during the period. SkyOak Wealth LLC purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $247,000. S.E.E.D. Planning Group LLC purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $256,000. National Mutual Insurance Federation of Agricultural Cooperatives purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $22,356,000. Finally, David J Yvars Group purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $51,000. 76.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:MU traded down $3.47 during trading on Thursday, hitting $75.65. 28,059,803 shares of the stock were exchanged, compared to its average volume of 22,326,479. The company has a fifty day moving average price of $84.45 and a two-hundred day moving average price of $80.90. The company has a market cap of $84.71 billion, a PE ratio of 11.67, a P/E/G ratio of 0.38 and a beta of 1.17. The company has a current ratio of 3.10, a quick ratio of 2.36 and a debt-to-equity ratio of 0.15. Micron Technology, Inc. has a 12-month low of $65.67 and a 12-month high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last issued its quarterly earnings data on Monday, December 20th. The semiconductor manufacturer reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.05. Micron Technology had a return on equity of 19.01% and a net margin of 24.86%. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.68 billion. During the same period in the previous year, the firm posted $0.71 EPS. The company’s quarterly revenue was up 33.2% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology, Inc. will post 8.67 earnings per share for the current fiscal year.

In other news, CEO Sanjay Mehrotra sold 100,000 shares of the company’s stock in a transaction on Friday, January 14th. The stock was sold at an average price of $97.16, for a total transaction of $9,716,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Manish H. Bhatia sold 97,107 shares of the company’s stock in a transaction on Friday, January 14th. The stock was sold at an average price of $96.02, for a total value of $9,324,214.14. The disclosure for this sale can be found here. Insiders have sold a total of 217,373 shares of company stock valued at $20,942,395 over the last 90 days. Insiders own 0.32% of the company’s stock.

A number of equities analysts have recently commented on the company. Credit Suisse Group lifted their target price on Micron Technology from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, December 21st. Mizuho boosted their price objective on Micron Technology from $98.00 to $110.00 in a report on Thursday, January 13th. Bank of America boosted their price objective on Micron Technology from $100.00 to $118.00 and gave the company a “buy” rating in a report on Monday, January 10th. Sanford C. Bernstein upgraded Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a report on Wednesday, March 16th. Finally, Barclays lifted their target price on Micron Technology from $100.00 to $105.00 in a research report on Wednesday, January 12th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Buy” and an average price target of $113.54.

Micron Technology Company Profile (Get Rating)

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 provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds 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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