Financial Advocates Investment Management reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 47.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,640 shares of the semiconductor manufacturer’s stock after selling 8,755 shares during the period. Financial Advocates Investment Management’s holdings in Micron Technology were worth $300,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in MU. Teacher Retirement System of Texas raised its stake in shares of Micron Technology by 48.1% during the 4th quarter. Teacher Retirement System of Texas now owns 1,995,990 shares of the semiconductor manufacturer’s stock worth $63,333,000 after purchasing an additional 648,371 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Micron Technology by 1.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 26,666 shares of the semiconductor manufacturer’s stock worth $846,000 after purchasing an additional 361 shares in the last quarter. Actinver Wealth Management Inc. purchased a new stake in shares of Micron Technology during the 4th quarter worth about $265,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Micron Technology during the 4th quarter worth about $703,000. Finally, CWM Advisors LLC raised its stake in shares of Micron Technology by 14.5% during the 4th quarter. CWM Advisors LLC now owns 26,305 shares of the semiconductor manufacturer’s stock worth $835,000 after purchasing an additional 3,331 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.
Shares of MU stock traded up $0.26 during mid-day trading on Wednesday, reaching $43.03. The stock had a trading volume of 17,387,229 shares, compared to its average volume of 31,584,549. 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 company has a market capitalization of $47.33 billion, a P/E ratio of 3.64, a P/E/G ratio of 1.09 and a beta of 1.87.
In related news, SVP Joel L. Poppen sold 20,210 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 269,368 shares in the company, valued at approximately $11,165,303.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott J. Deboer sold 14,486 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $42.88, for a total value of $621,159.68. Following the transaction, the executive vice president now owns 150,236 shares of the company’s stock, valued at approximately $6,442,119.68. The disclosure for this sale can be found here. Insiders sold a total of 55,878 shares of company stock valued at $2,293,223 in the last quarter. Corporate insiders own 0.20% of the company’s stock.
MU has been the subject of a number of recent research reports. Mizuho cut their price target on Micron Technology from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Standpoint Research raised Micron Technology from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Rosenblatt Securities reissued a “buy” rating and set a $75.00 price objective on shares of Micron Technology in a report on Tuesday, March 19th. Summit Insights raised Micron Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Finally, MKM Partners increased their price objective on Micron Technology to $50.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have issued a buy rating to the stock. Micron Technology currently has a consensus rating of “Hold” and a consensus price target of $55.85.
Micron Technology Profile
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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