Cyndeo Wealth Partners LLC Buys Shares of 3,209 Micron Technology, Inc. (NASDAQ:MU)

Cyndeo Wealth Partners LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,209 shares of the semiconductor manufacturer's stock, valued at approximately $279,000.

Several other institutional investors also recently bought and sold shares of MU. Brighton Jones LLC lifted its stake in shares of Micron Technology by 18.3% during 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 lifted its stake in shares of Micron Technology by 19.5% during 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. Allworth Financial LP lifted its stake in shares of Micron Technology by 28.5% during the fourth quarter. Allworth Financial LP now owns 8,717 shares of the semiconductor manufacturer's stock worth $734,000 after buying an additional 1,933 shares during the period. Csenge Advisory Group lifted its stake in shares of Micron Technology by 56.4% during the fourth quarter. Csenge Advisory Group now owns 5,500 shares of the semiconductor manufacturer's stock worth $463,000 after buying an additional 1,983 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Micron Technology by 1.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 17,533 shares of the semiconductor manufacturer's stock worth $1,476,000 after buying an additional 329 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of NASDAQ MU traded up $1.48 during trading on Thursday, hitting $121.82. The company had a trading volume of 20,156,669 shares, compared to its average volume of 23,618,207. The stock has a fifty day simple moving average of $91.01 and a two-hundred day simple moving average of $93.07. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.41. The firm has a market capitalization of $136.14 billion, a price-to-earnings ratio of 29.21 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MU. Robert W. Baird lifted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a report on Wednesday, March 26th. Morgan Stanley reduced their target price on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Wedbush reissued an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Finally, UBS Group raised their target price on shares of Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were 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 directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. 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 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

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.