Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Ayalon Insurance Comp Ltd.

Ayalon Insurance Comp Ltd. lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 31.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,016 shares of the semiconductor manufacturer's stock after selling 8,866 shares during the quarter. Ayalon Insurance Comp Ltd.'s holdings in Micron Technology were worth $1,653,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MU. Sunbeam Capital Management LLC acquired a new position in Micron Technology in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology in the 1st quarter valued at about $33,000. Midwest Capital Advisors LLC acquired a new position in Micron Technology in the 4th quarter valued at about $33,000. Roxbury Financial LLC raised its stake in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Finally, Curio Wealth LLC acquired a new position in Micron Technology in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 5,210 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were 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 in the company, valued at approximately $46,073,561.25. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,404 shares of company stock worth $5,572,867 in the last 90 days. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Wedbush restated an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Finally, China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and an average price target of $129.00.

Micron Technology Stock Up 1.2%

NASDAQ MU traded up $1.48 on Thursday, reaching $121.82. The company had a trading volume of 20,156,669 shares, compared to its average volume of 23,618,207. The firm has a market capitalization of $136.14 billion, a PE ratio of 29.21 and a beta of 1.28. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.41. The firm has a 50-day moving average of $91.01 and a 200-day moving average of $93.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99.

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

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.