Navis Wealth Advisors LLC Acquires New Stake in Micron Technology, Inc. (NASDAQ:MU)

Navis Wealth Advisors LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the first quarter, HoldingsChannel reports. The institutional investor bought 3,210 shares of the semiconductor manufacturer’s stock, valued at approximately $279,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC acquired a new position in Micron Technology during the fourth quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new position in Micron Technology in the 4th quarter valued at $33,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology in the 1st quarter worth about $33,000. Curio Wealth LLC acquired a new position in Micron Technology during the fourth quarter worth approximately $34,000. Finally, Hurley Capital LLC acquired a new position in Micron Technology in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 5,210 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total value of $632,233.50. Following the completion of the sale, the chief executive officer now directly owns 379,675 shares in the company, valued at $46,073,561.25. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was 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 directly owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,404 shares of company stock valued at $4,130,167. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

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 stock has a market capitalization of $136.43 billion, a P/E ratio of 29.28 and a beta of 1.28. The company’s 50 day simple moving average is $94.15 and its 200-day simple moving average is $93.42. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $144.07.

Analyst Ratings Changes

MU has been the topic of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Morgan Stanley dropped their target price on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Citigroup boosted their price objective on Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Finally, China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.75.

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.