Oppenheimer & Co. Inc. Sells 2,656 Shares of Micron Technology, Inc. (NASDAQ:MU)

Oppenheimer & Co. Inc. cut its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,419 shares of the semiconductor manufacturer's stock after selling 2,656 shares during the period. Oppenheimer & Co. Inc.'s holdings in Micron Technology were worth $3,251,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Xcel Wealth Management LLC raised its holdings in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after buying an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of 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 acquiring an additional 108 shares in the last quarter. Twin Capital Management Inc. increased its position in shares of Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after acquiring an additional 108 shares in the last quarter. Cim Investment Management Inc. raised its holdings in shares of Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after acquiring an additional 114 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position 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 in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Transactions at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 186,353 shares of the company's stock, valued at approximately $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,404 shares of company stock valued at $4,130,167. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird upped their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $172.00 price objective on shares of Micron Technology in a research note on Monday. UBS Group boosted their target price on Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Finally, Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $126.75.

Micron Technology Stock Performance

Shares of MU stock opened at $127.25 on Thursday. The firm's 50 day moving average is $96.45 and its 200 day moving average is $93.89. The stock has a market capitalization of $142.21 billion, a P/E ratio of 30.52 and a beta of 1.28. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $144.07. 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 (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. During the same quarter in the prior year, the business posted $0.62 earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

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.

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