PKO Investment Management Joint Stock Co Buys 3,000 Shares of Micron Technology, Inc. (NASDAQ:MU)

PKO Investment Management Joint Stock Co increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the semiconductor manufacturer's stock after purchasing an additional 3,000 shares during the period. PKO Investment Management Joint Stock Co's holdings in Micron Technology were worth $6,517,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MU. Insigneo Advisory Services LLC raised its position in Micron Technology by 42.2% in the 1st quarter. Insigneo Advisory Services LLC now owns 17,793 shares of the semiconductor manufacturer's stock valued at $1,546,000 after buying an additional 5,280 shares during the last quarter. Blackston Financial Advisory Group LLC acquired a new stake in Micron Technology in the 1st quarter valued at approximately $248,000. Fortitude Advisory Group L.L.C. acquired a new stake in Micron Technology in the 1st quarter valued at approximately $287,000. Grove Bank & Trust raised its position in Micron Technology by 7.1% in the 1st quarter. Grove Bank & Trust now owns 8,443 shares of the semiconductor manufacturer's stock valued at $734,000 after buying an additional 561 shares during the last quarter. Finally, Grimes & Company Inc. raised its position in Micron Technology by 5,335.4% in the 1st quarter. Grimes & Company Inc. now owns 169,422 shares of the semiconductor manufacturer's stock valued at $14,721,000 after buying an additional 166,305 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Ratings Changes

MU has been the topic of a number of recent research reports. Barclays dropped their target price 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. JPMorgan Chase & Co. dropped their target price 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. Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Rosenblatt Securities dropped their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.00.

Micron Technology Stock Performance

Shares of MU stock traded up $1.48 during trading on Thursday, reaching $121.82. 20,156,669 shares of the company's stock were exchanged, compared to its average volume of 23,618,207. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $136.14 billion, a PE ratio of 29.21 and a beta of 1.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.41. The firm's fifty day moving average price is $92.05 and its 200-day moving average price is $93.23.

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 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 analyst estimates of $7.93 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The firm's revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Insider Activity at Micron Technology

In related news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction 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 $20,498,830. The trade was a 9.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,404 shares of company stock worth $5,572,867 in the last ninety days. 0.30% of the stock is owned by company insiders.

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.