Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 55.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,871 shares of the semiconductor manufacturer's stock after acquiring an additional 3,180 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Micron Technology were worth $771,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Micron Technology in the 4th quarter valued at approximately $1,470,875,000. Capital World Investors raised its stake in Micron Technology by 63.7% during the fourth 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 during the period. FMR LLC increased its position in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after acquiring an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors increased its holdings in Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the business'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 transaction 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. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 3,562 shares of Micron Technology stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.46, for a total value of $393,458.52. Following the sale, the chief executive officer now directly owns 391,113 shares in the company, valued at $43,202,341.98. The trade was a 0.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,404 shares of company stock valued at $5,572,867 over the last three months. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities decreased their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Wedbush restated an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Citigroup upped 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. Finally, China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $129.00.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $1.48 during trading on Thursday, reaching $121.82. 20,156,669 shares of the company's stock traded hands, compared to its average volume of 23,618,207. The stock has a market capitalization of $136.14 billion, a P/E ratio of 29.21 and a beta of 1.28. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.41. The company 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 announced 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 business had revenue of $8.05 billion for 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%. The business's quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current 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.