Micron Technology, Inc. (NASDAQ:MU) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,487 shares of the semiconductor manufacturer's stock after selling 6,935 shares during the period. State of Alaska Department of Revenue's holdings in Micron Technology were worth $12,641,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Kingswood Wealth Advisors LLC raised its stake in shares of Micron Technology by 213.7% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 34,543 shares of the semiconductor manufacturer's stock worth $3,048,000 after buying an additional 23,530 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Micron Technology by 12.8% during the 1st quarter. Cornerstone Wealth Management LLC now owns 5,171 shares of the semiconductor manufacturer's stock valued at $449,000 after acquiring an additional 586 shares in the last quarter. Clarius Group LLC increased its holdings in Micron Technology by 57.9% during the 1st quarter. Clarius Group LLC now owns 14,238 shares of the semiconductor manufacturer's stock valued at $1,237,000 after acquiring an additional 5,220 shares in the last quarter. Bell Bank acquired a new position in Micron Technology during the first quarter worth about $327,000. Finally, PKO Investment Management Joint Stock Co lifted its holdings in shares of Micron Technology by 4.2% in the first quarter. PKO Investment Management Joint Stock Co now owns 75,000 shares of the semiconductor manufacturer's stock valued at $6,517,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Friday, June 6th. The shares were 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 owns 186,353 shares of the company's stock, valued at $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 5,210 shares of Micron Technology stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $121.35, for a total transaction of $632,233.50. Following the transaction, the chief executive officer now owns 379,675 shares in the company, valued at $46,073,561.25. The trade was a 1.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,404 shares of company stock valued at $5,572,867. Company insiders own 0.30% of the company's stock.

Micron Technology Trading Up 1.2%

Shares of MU traded up $1.48 during mid-day trading on Thursday, reaching $121.82. The company had a trading volume of 20,156,669 shares, compared to its average volume of 23,618,207. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.41. The firm has a fifty day simple moving average of $91.01 and a 200-day simple moving average of $93.07. The stock has a market cap of $136.14 billion, a price-to-earnings ratio of 29.21 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 issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company posted $0.42 EPS. The business's quarterly revenue was up 38.2% on a year-over-year basis. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MU. Royal Bank Of Canada set a $125.00 price objective on shares of Micron Technology in a research note on Wednesday, March 19th. Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. Morgan Stanley cut their price target on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Mizuho lifted 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $129.00.

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.