Mission Wealth Management LP Has $1.36 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Mission Wealth Management LP boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 195.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,650 shares of the semiconductor manufacturer's stock after acquiring an additional 10,348 shares during the quarter. Mission Wealth Management LP's holdings in Micron Technology were worth $1,360,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. Cyndeo Wealth Partners LLC bought a new position in shares of Micron Technology in the 1st quarter valued at about $279,000. Keystone Wealth Services LLC acquired a new position in Micron Technology during the first quarter valued at approximately $304,000. Brighton Jones LLC grew its stake in Micron Technology by 20.9% in the first quarter. Brighton Jones LLC now owns 7,636 shares of the semiconductor manufacturer's stock valued at $663,000 after purchasing an additional 1,318 shares in the last quarter. BayBridge Capital Group LLC bought a new position in Micron Technology in the first quarter valued at approximately $276,000. Finally, Prentice Wealth Management LLC increased its position in shares of Micron Technology by 5.2% during the 1st quarter. Prentice Wealth Management LLC now owns 3,162 shares of the semiconductor manufacturer's stock worth $275,000 after purchasing an additional 156 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares of the company's stock, valued at $20,498,830. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,404 shares of company stock valued at $5,572,867. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

MU stock traded up $1.78 during mid-day trading on Friday, hitting $123.60. The stock had a trading volume of 28,255,648 shares, compared to its average volume of 23,640,386. The firm has a fifty day simple moving average of $92.05 and a 200 day simple moving average of $93.23. The firm has a market capitalization of $138.13 billion, a P/E ratio of 29.64 and a beta of 1.28. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.41.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $7.93 billion. During the same period last year, the firm posted $0.42 earnings per share. The firm's quarterly revenue was up 38.2% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Analyst Ratings Changes

MU has been the subject of several analyst reports. Citigroup raised their target price on shares of Micron Technology from $110.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Robert W. Baird lifted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research note on Wednesday, March 26th. Barclays lowered their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $130.80.

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.