Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Balboa Wealth Partners

Balboa Wealth Partners grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,267 shares of the semiconductor manufacturer's stock after purchasing an additional 2,874 shares during the quarter. Balboa Wealth Partners' holdings in Micron Technology were worth $2,022,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 5,210 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $121.35, for a total transaction of $632,233.50. Following the completion of the transaction, the chief executive officer now owns 379,675 shares in the company, valued at approximately $46,073,561.25. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,404 shares of company stock valued at $4,130,167. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Down 1.2%

Shares of NASDAQ:MU opened at $122.08 on Tuesday. 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 firm has a market cap of $136.43 billion, a P/E ratio of 29.28 and a beta of 1.28. The company's 50-day moving average price is $94.15 and its two-hundred day moving average price is $93.42. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $144.07.

Wall Street Analyst Weigh In

MU has been the subject of a number of research reports. Rosenblatt Securities restated a "buy" rating and set a $172.00 target price on shares of Micron Technology in a research report on Monday. Morgan Stanley cut their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research note on Wednesday, March 26th. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Royal Bank Of Canada set a $125.00 price objective on shares of Micron Technology in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $126.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.