Generate Investment Management Ltd Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Generate Investment Management Ltd boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 222.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 249,754 shares of the semiconductor manufacturer’s stock after purchasing an additional 172,379 shares during the period. Micron Technology comprises 1.5% of Generate Investment Management Ltd’s portfolio, making the stock its 21st largest position. Generate Investment Management Ltd’s holdings in Micron Technology were worth $21,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MU. Sunbeam Capital Management LLC bought a new position in Micron Technology during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology during the 1st quarter worth approximately $33,000. Curio Wealth LLC bought a new position in Micron Technology during the 4th quarter worth approximately $34,000. Hurley Capital LLC bought a new position in Micron Technology during the 4th quarter worth approximately $37,000. Finally, Roxbury Financial LLC lifted its holdings in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 4.8%

Shares of MU stock opened at $127.91 on Wednesday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $144.07. The stock has a market cap of $142.95 billion, a PE ratio of 30.67 and a beta of 1.28. The business’s fifty day moving average is $95.29 and its 200-day moving average is $93.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group raised their price target on Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 5th. Citigroup raised their price target on Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Robert W. Baird raised their price target on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $172.00 price target on shares of Micron Technology in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.75.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 transaction, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 3,938 shares of Micron Technology stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.88, for a total value of $436,645.44. Following the transaction, the chief executive officer now owns 387,175 shares in the company, valued at approximately $42,929,964. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,404 shares of company stock worth $4,130,167. 0.30% of the stock is owned by company insiders.

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.