8,886 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Heartland Bank & Trust Co

Heartland Bank & Trust Co purchased a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,886 shares of the semiconductor manufacturer's stock, valued at approximately $772,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Micron Technology during the fourth quarter valued at about $1,470,875,000. Capital World Investors raised its stake in shares of 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 acquiring an additional 15,993,036 shares during the last quarter. FMR LLC raised its stake in shares of 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 acquiring an additional 12,249,341 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after acquiring an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors raised its stake in shares of Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after acquiring an additional 4,375,232 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred on 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 2,290 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $120.31, for a total transaction of $275,509.90. Following the completion of the sale, the chief executive officer now owns 384,885 shares in the company, valued at $46,305,514.35. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,404 shares of company stock valued at $5,572,867 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Up 1.5%

Shares of NASDAQ:MU traded up $1.78 during trading on Friday, reaching $123.60. 29,228,945 shares of the stock traded hands, compared to its average volume of 23,459,384. The stock has a market cap of $138.13 billion, a P/E ratio of 29.64 and a beta of 1.28. 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 stock has a 50-day moving average of $93.13 and a two-hundred day moving average of $93.27. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $144.07.

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 for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. The firm's quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MU. Wells Fargo & Company upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating and boosted their price target for the company from $130.00 to $150.00 in a research report on Friday. Mizuho boosted their price target on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, UBS Group boosted their price target on shares of Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average 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.