E Fund Management Hong Kong Co. Ltd. Buys 462 Shares of Micron Technology, Inc. (NASDAQ:MU)

E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 513.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 552 shares of the semiconductor manufacturer’s stock after acquiring an additional 462 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in Micron Technology were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MU. Legacy Advisors LLC boosted its stake in shares of Micron Technology by 4.4% during the first quarter. Legacy Advisors LLC now owns 6,000 shares of the semiconductor manufacturer’s stock valued at $522,000 after purchasing an additional 255 shares during the period. Asset Management One Co. Ltd. raised its holdings in Micron Technology by 5.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 456,376 shares of the semiconductor manufacturer’s stock valued at $39,655,000 after buying an additional 23,150 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Micron Technology by 78.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 16,759 shares of the semiconductor manufacturer’s stock valued at $1,456,000 after buying an additional 7,352 shares during the period. JFS Wealth Advisors LLC boosted its position in Micron Technology by 16.8% during the 1st quarter. JFS Wealth Advisors LLC now owns 1,963 shares of the semiconductor manufacturer’s stock valued at $171,000 after buying an additional 282 shares during the period. Finally, Moser Wealth Advisors LLC bought a new stake in Micron Technology in the 1st quarter worth $95,000. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley lowered 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 note on Wednesday, May 7th. Wedbush boosted their price target on Micron Technology from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Friday. Rosenblatt Securities reiterated a “buy” rating and issued a $172.00 price objective on shares of Micron Technology in a report on Monday. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company raised 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 note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.75.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president now directly owns 186,353 shares in the company, valued at $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,404 shares of company stock valued at $4,130,167 over the last quarter. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 1.2%

NASDAQ:MU opened at $122.08 on Tuesday. 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’s 50-day moving average price is $94.15 and its 200-day moving average price is $93.42. The company has a market capitalization of $136.43 billion, a PE ratio of 29.28 and a beta of 1.28. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $144.07.

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.