Micron Technology, Inc. (MU) Stake Decreased by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 89.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500 shares of the semiconductor manufacturer’s stock after selling 12,690 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Micron Technology were worth $62,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Executive Wealth Management LLC bought a new stake in Micron Technology in the 4th quarter valued at approximately $26,000. JNBA Financial Advisors bought a new stake in Micron Technology in the 4th quarter valued at approximately $28,000. Lavaca Capital LLC bought a new stake in Micron Technology in the 4th quarter valued at approximately $29,000. Athena Capital Advisors LLC bought a new stake in Micron Technology in the 4th quarter valued at approximately $29,000. Finally, Valeo Financial Advisors LLC lifted its stake in Micron Technology by 73.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Shares of NASDAQ MU opened at $43.40 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.10. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $64.66. The firm has a market capitalization of $48.03 billion, a price-to-earnings ratio of 3.87, a PEG ratio of 1.09 and a beta of 1.87.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.82 billion. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. Micron Technology’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 EPS. Equities analysts forecast that Micron Technology, Inc. will post 6.27 earnings per share for the current fiscal year.

In related news, SVP Joel L. Poppen sold 20,210 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $41.45, for a total transaction of $837,704.50. Following the completion of the sale, the senior vice president now directly owns 269,368 shares in the company, valued at approximately $11,165,303.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP April S. Arnzen sold 21,182 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total value of $834,358.98. Following the sale, the senior vice president now owns 86,992 shares of the company’s stock, valued at $3,426,614.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,878 shares of company stock worth $2,293,223. 0.20% of the stock is currently owned by insiders.

Several research firms have commented on MU. UBS Group boosted their target price on Micron Technology to $41.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and issued a $75.00 target price on shares of Micron Technology in a research note on Tuesday, March 19th. Needham & Company LLC restated a “hold” rating on shares of Micron Technology in a research note on Tuesday, January 8th. Cowen boosted their target price on Micron Technology to $46.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Summit Redstone upgraded Micron Technology to a “buy” rating in a research note on Thursday, March 21st. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $55.85.

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About Micron Technology

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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