Nilsine Partners LLC Purchases 6,446 Shares of Micron Technology, Inc. (NASDAQ:MU)

Nilsine Partners LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 84.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,039 shares of the semiconductor manufacturer's stock after purchasing an additional 6,446 shares during the quarter. Nilsine Partners LLC's holdings in Micron Technology were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. Xcel Wealth Management LLC raised its stake in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after acquiring an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after acquiring an additional 108 shares during the period. Twin Capital Management Inc. raised its stake in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after acquiring an additional 108 shares during the period. Cim Investment Management Inc. raised its stake in Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after acquiring an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its stake in Micron Technology by 1.1% in 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 period. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 186,353 shares in the company, valued at approximately $20,498,830. This trade represents a 9.69% 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, CEO Sanjay Mehrotra sold 3,562 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.46, for a total value of $393,458.52. Following the completion of the transaction, the chief executive officer now owns 391,113 shares of the company's stock, valued at $43,202,341.98. This represents a 0.90% decrease in their ownership of the stock. 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 ninety days. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $123.60 on Friday. The stock's 50-day simple moving average is $93.13 and its 200 day simple moving average is $93.33. The firm has a market capitalization of $138.13 billion, a PE ratio of 29.64 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 twelve month low of $61.54 and a twelve month high of $144.07.

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

Analysts Set New Price Targets

Several research analysts have weighed in on MU shares. Citigroup increased their price objective on Micron Technology from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. lowered their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Mizuho increased their price objective on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Morgan Stanley lowered their price objective 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. Finally, Robert W. Baird increased their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and a consensus price target of $127.92.

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.

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