NRI Wealth Management LC Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

NRI Wealth Management LC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,718 shares of the semiconductor manufacturer’s stock after buying an additional 716 shares during the period. Micron Technology accounts for approximately 0.8% of NRI Wealth Management LC’s holdings, making the stock its 19th largest holding. NRI Wealth Management LC’s holdings in Micron Technology were worth $1,105,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the first quarter valued at $33,000. Roxbury Financial LLC lifted its holdings in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 300 shares during the period. Curio Wealth LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at $34,000. Finally, Hurley Capital LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at $37,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Micron Technology stock opened at $127.91 on Wednesday. The company has a market capitalization of $142.95 billion, a PE ratio of 30.67 and a beta of 1.28. The firm has a fifty day simple moving average of $95.29 and a two-hundred day simple moving average of $93.66. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $144.07.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Wednesday, March 26th. UBS Group upped their target price on Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Rosenblatt Securities restated a “buy” rating and set a $172.00 target price on shares of Micron Technology in a research note on Monday. Finally, Citigroup increased their target price on Micron Technology from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, June 9th. 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 given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.75.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred 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 transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 3,938 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.88, for a total transaction of $436,645.44. Following the completion of the transaction, the chief executive officer now owns 387,175 shares in the company, valued at $42,929,964. The trade was a 1.01% 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 worth $4,130,167 over the last 90 days. 0.30% of the stock is owned by company insiders.

About Micron Technology

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.