Guyasuta Investment Advisors Inc. Buys 3,866 Shares of Micron Technology, Inc. (NASDAQ:MU)

Guyasuta Investment Advisors Inc. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,788 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,866 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Micron Technology were worth $15,361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC bought a new position in Micron Technology during the fourth quarter worth $26,000. Midwest Capital Advisors LLC bought a new position in Micron Technology during the fourth quarter worth $33,000. Opal Wealth Advisors LLC bought a new position in Micron Technology during the first quarter worth $33,000. Curio Wealth LLC bought a new position in Micron Technology during the fourth quarter worth $34,000. Finally, Hurley Capital LLC bought a new position in Micron Technology during the fourth quarter worth $37,000. 80.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value 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 represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34% 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. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Up 1.5%

Shares of NASDAQ MU opened at $123.60 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The company has a market cap of $138.13 billion, a price-to-earnings ratio of 29.64 and a beta of 1.28. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $144.07. The stock has a 50-day moving average price of $93.13 and a two-hundred day moving average price of $93.33.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The business’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada set a $125.00 price objective on shares of Micron Technology in a research report on Wednesday, March 19th. Wall Street Zen raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Wells Fargo & Company raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating and boosted their target price for the company from $130.00 to $150.00 in a research report on Friday. Robert W. Baird boosted their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. Finally, Citigroup boosted their target price on shares of Micron Technology from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.92.

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.