Childress Capital Advisors LLC Decreases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Childress Capital Advisors LLC cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 42.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,113 shares of the semiconductor manufacturer's stock after selling 3,093 shares during the quarter. Childress Capital Advisors LLC's holdings in Micron Technology were worth $357,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MU. Brighton Jones LLC increased its stake in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after buying an additional 976 shares during the period. Bank Pictet & Cie Europe AG increased its stake 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 worth $7,214,000 after buying an additional 13,985 shares during the period. Private Advisor Group LLC increased its stake in shares of Micron Technology by 15.3% in the fourth quarter. Private Advisor Group LLC now owns 98,177 shares of the semiconductor manufacturer's stock worth $8,263,000 after buying an additional 13,052 shares during the period. Ieq Capital LLC increased its stake in shares of Micron Technology by 5.2% in the fourth quarter. Ieq Capital LLC now owns 64,569 shares of the semiconductor manufacturer's stock worth $5,434,000 after buying an additional 3,179 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Micron Technology by 24.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 7,873 shares of the semiconductor manufacturer's stock worth $663,000 after buying an additional 1,542 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 5,210 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total value of $632,233.50. Following the completion of the transaction, the chief executive officer now directly owns 379,675 shares of the company's stock, valued at approximately $46,073,561.25. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,404 shares of company stock worth $5,572,867 in the last quarter. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of MU stock opened at $123.60 on Friday. The stock has a market cap of $138.13 billion, a PE ratio of 29.64 and a beta of 1.28. The company's fifty day moving average price is $93.13 and its 200-day moving average price is $93.33. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $144.07. 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 (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. Micron Technology's revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup lifted their price target on shares of Micron Technology from $110.00 to $130.00 and gave the company a "buy" rating in a report on Monday, June 9th. Mizuho lifted 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. Rosenblatt Securities cut their price target on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, March 21st. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.92.

About Micron Technology

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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