Janney Montgomery Scott LLC Purchases 128,868 Shares of Micron Technology, Inc. (NASDAQ:MU)

Janney Montgomery Scott LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 118.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 237,651 shares of the semiconductor manufacturer's stock after acquiring an additional 128,868 shares during the quarter. Janney Montgomery Scott LLC's holdings in Micron Technology were worth $20,650,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Xcel Wealth Management LLC grew its stake in shares of Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after purchasing an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after buying an additional 108 shares in the last quarter. Twin Capital Management Inc. grew its position in Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after buying an additional 108 shares during the last quarter. Cim Investment Management Inc. increased its holdings in shares of Micron Technology by 0.5% in the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after buying an additional 114 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Micron Technology by 1.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock valued at $883,000 after acquiring an additional 119 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Up 1.2%

Shares of MU traded up $1.48 during midday trading on Thursday, reaching $121.82. 20,156,669 shares of the stock were exchanged, compared to its average volume of 23,618,207. The company has a market cap of $136.14 billion, a price-to-earnings ratio of 29.21 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.41. The firm has a 50 day simple moving average of $91.01 and a 200-day simple moving average of $93.07.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results 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 firm had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company's revenue was up 38.2% compared to the same quarter last year. Research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Insider Activity

In related news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value 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 approximately $20,498,830. The trade was a 9.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 5,210 shares of the 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 transaction, the chief executive officer now owns 379,675 shares in the company, valued at approximately $46,073,561.25. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,404 shares of company stock worth $5,572,867. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MU shares. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Rosenblatt Securities cut their price objective on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Mizuho raised their target price on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Wall Street Zen upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and an average price target of $129.00.

Micron Technology Company 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.