Blackston Financial Advisory Group LLC Acquires New Stake in Micron Technology, Inc. (NASDAQ:MU)

Blackston Financial Advisory Group LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,856 shares of the semiconductor manufacturer's stock, valued at approximately $248,000.

Several other large investors have also recently bought and sold shares of the business. E Fund Management Co. Ltd. raised its stake in Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after acquiring an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. increased its position in shares of Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Duquesne Family Office LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at about $34,412,000. Finally, Janus Henderson Group PLC boosted its position in shares of Micron Technology by 74.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after purchasing an additional 1,130,680 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays cut their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird lifted their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Wells Fargo & Company upped their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $130.80.

Micron Technology Price Performance

MU traded up $1.78 on Friday, hitting $123.60. 29,194,941 shares of the company were exchanged, compared to its average volume of 22,925,914. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $144.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. The firm has a market capitalization of $138.13 billion, a P/E ratio of 29.64 and a beta of 1.28. The business's fifty day moving average is $92.05 and its 200 day moving average is $93.23.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The company's quarterly revenue was up 38.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 3,562 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.46, for a total transaction of $393,458.52. Following the completion of the transaction, the chief executive officer now directly owns 391,113 shares in the company, valued at approximately $43,202,341.98. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,404 shares of company stock valued at $5,572,867. 0.30% of the stock is owned by insiders.

Micron Technology 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.