International Assets Investment Management LLC Invests $12.77 Million in Micron Technology, Inc. (NASDAQ:MU)

International Assets Investment Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 146,935 shares of the semiconductor manufacturer's stock, valued at approximately $12,767,000. Micron Technology accounts for approximately 0.4% of International Assets Investment Management LLC's holdings, making the stock its 22nd largest holding.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after purchasing an additional 888,087 shares during the period. FMR LLC increased its position in Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares during the period. Capital World Investors raised its stake in Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after purchasing an additional 726,282 shares during the period. Finally, Norges Bank acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $1,470,875,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MU has been the topic of a number of analyst reports. Wedbush increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Royal Bank Of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.75.

Micron Technology Price Performance

MU traded up $5.83 during trading on Tuesday, reaching $127.91. 26,287,020 shares of the company were exchanged, compared to its average volume of 23,470,466. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $144.07. The company's 50-day moving average is $94.15 and its two-hundred day moving average is $93.42. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The company has a market cap of $142.95 billion, a price-to-earnings ratio of 30.67 and a beta of 1.28.

Insiders Place Their Bets

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 186,353 shares in the company, valued at $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,404 shares of company stock worth $4,130,167 in the last ninety days. 0.30% of the stock is currently 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.