Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 72.8% during the first quarter, Holdings Channel.com reports. The firm owned 670 shares of the semiconductor manufacturer’s stock after selling 1,790 shares during the period. Micron Technology accounts for approximately 0.7% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 29th largest position. Mizuho Securities Co. Ltd.’s holdings in Micron Technology were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Xcel Wealth Management LLC raised its position in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after acquiring an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 108 shares during the last quarter. Twin Capital Management Inc. raised its position in shares of Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock worth $1,688,000 after purchasing an additional 108 shares during the last quarter. Cim Investment Management Inc. lifted its stake in Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock valued at $1,941,000 after buying an additional 114 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in Micron Technology by 1.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock valued at $883,000 after buying an additional 119 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 5,210 shares of the business’s 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 directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares of the company’s stock, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,404 shares of company stock worth $5,572,867. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MU. Barclays cut their price target on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Wall Street Zen raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Morgan Stanley cut 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 research report on Wednesday, May 7th. Finally, Mizuho upped their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.80.

Micron Technology Stock Performance

NASDAQ MU opened at $123.60 on Friday. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $144.07. The business’s 50-day simple moving average is $93.13 and its 200-day simple moving average is $93.40. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99. The firm has a market capitalization of $138.13 billion, a P/E ratio of 29.64 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (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 company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology 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.