Cambridge Investment Research Advisors Inc. Has $14.17 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Cambridge Investment Research Advisors Inc. lessened its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,127 shares of the semiconductor manufacturer's stock after selling 41,048 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Micron Technology were worth $14,174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Brighton Jones LLC lifted its holdings in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after purchasing an additional 13,985 shares during the last quarter. Wealthspire Advisors LLC raised its position in shares of Micron Technology by 88.0% in the fourth quarter. Wealthspire Advisors LLC now owns 5,669 shares of the semiconductor manufacturer's stock valued at $477,000 after purchasing an additional 2,654 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Micron Technology during the 4th quarter worth about $846,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Micron Technology during the 4th quarter worth about $2,081,000. Institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MU. Wells Fargo & Company upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $130.00 to $150.00 in a research note on Friday, June 20th. Robert W. Baird boosted their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Morgan Stanley lowered their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Finally, Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $126.75.

Micron Technology Price Performance

Micron Technology stock traded down $0.66 during trading hours on Wednesday, reaching $127.25. 35,216,440 shares of the stock were exchanged, compared to its average volume of 23,033,961. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $144.07. The company has a market cap of $142.21 billion, a P/E ratio of 30.52 and a beta of 1.28. The stock has a 50 day moving average of $95.29 and a two-hundred day moving average of $93.66.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president now directly owns 186,353 shares in the company, valued at $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,404 shares of company stock worth $4,130,167. Corporate insiders own 0.30% of the company's stock.

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.