Shelton Wealth Management LLC Acquires New Stake in Micron Technology, Inc. (NASDAQ:MU)

Shelton Wealth Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,400 shares of the semiconductor manufacturer's stock, valued at approximately $904,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MU. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the fourth quarter valued at $26,000. Midwest Capital Advisors LLC acquired a new stake in Micron Technology in the fourth quarter valued at $33,000. Opal Wealth Advisors LLC bought a new stake in Micron Technology during the first quarter valued at $33,000. Curio Wealth LLC bought a new stake in Micron Technology during the fourth quarter valued at $34,000. Finally, Hurley Capital LLC bought a new stake in Micron Technology during the fourth quarter valued at $37,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Micron Technology stock opened at $121.82 on Friday. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.41. The company's 50 day moving average price is $92.05 and its two-hundred day moving average price is $93.23. 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 cap of $136.14 billion, a P/E ratio of 29.21 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $7.93 billion. During the same quarter last year, the firm earned $0.42 EPS. The company's quarterly revenue was up 38.2% compared to the same quarter last year. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Analyst Ratings Changes

MU has been the topic of a number of research analyst reports. China Renaissance cut 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 report on Wednesday, March 26th. UBS Group upped their price target on shares of Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Mizuho upped their price target on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Finally, Citigroup upped their price target on shares of Micron Technology from $110.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and an average price target of $129.00.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 5,210 shares of Micron Technology 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 sale, the chief executive officer now owns 379,675 shares of the company's stock, valued at approximately $46,073,561.25. The trade was a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,404 shares of company stock valued at $5,572,867 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

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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