10,827 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,827 shares of the semiconductor manufacturer's stock, valued at approximately $941,000.

Other large investors have also recently bought and sold shares of the company. Sunbeam Capital Management LLC bought a new stake in Micron Technology in the 4th quarter valued at about $26,000. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the first quarter valued at approximately $33,000. Curio Wealth LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $34,000. Finally, Hurley Capital LLC acquired a new position in shares of Micron Technology during the fourth quarter worth approximately $37,000. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MU shares. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Wedbush raised their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday. JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Morgan Stanley decreased their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Finally, Wells Fargo & Company raised their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $130.80.

Micron Technology Trading Up 0.8%

MU stock traded up $0.94 during mid-day trading on Friday, reaching $122.76. 11,760,031 shares of the stock traded hands, compared to its average volume of 23,575,069. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.41. The stock's fifty day moving average is $92.05 and its 200-day moving average is $93.23. The company has a market cap of $137.19 billion, a P/E ratio of 29.38 and a beta of 1.28. 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 released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm's revenue was up 38.2% compared to the same quarter last year. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction 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 owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 3,562 shares of Micron Technology 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 sale, the chief executive officer now owns 391,113 shares of the company's stock, valued at approximately $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. In the last three months, insiders have sold 52,404 shares of company stock worth $5,572,867. Corporate insiders own 0.30% of the company's stock.

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.