Advisor Resource Council Invests $2.72 Million in Micron Technology, Inc. (NASDAQ:MU)

Advisor Resource Council bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 31,322 shares of the semiconductor manufacturer's stock, valued at approximately $2,722,000.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after acquiring an additional 888,087 shares in the last quarter. FMR LLC raised its stake in Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. Capital World Investors lifted its position in Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after buying an additional 726,282 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Micron Technology in the 4th quarter worth $1,470,875,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MU has been the subject of a number of analyst reports. Mizuho increased their price target on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. dropped their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $129.00.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 2,290 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $120.31, for a total transaction of $275,509.90. Following the sale, the chief executive officer now directly owns 384,885 shares of the company's stock, valued at approximately $46,305,514.35. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,404 shares of company stock valued at $5,572,867. Company insiders own 0.30% of the company's stock.

Micron Technology Price Performance

MU opened at $121.82 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The business's fifty day simple moving average is $92.05 and its 200-day simple moving average is $93.23. The company has a market capitalization of $136.14 billion, a price-to-earnings ratio of 29.21 and a beta of 1.28. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.41.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm's revenue for the quarter was up 38.2% compared to the same quarter last year. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and 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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