Micron Technology, Inc. (NASDAQ:MU) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC cut its position in Micron Technology, Inc. (NASDAQ:MU) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,637 shares of the semiconductor manufacturer’s stock after selling 320 shares during the quarter. KG&L Capital Management LLC’s holdings in Micron Technology were worth $1,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the 1st quarter worth approximately $33,000. Roxbury Financial LLC boosted 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 acquiring an additional 300 shares in the last quarter. Curio Wealth LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at approximately $34,000. Finally, Hurley Capital LLC bought a new stake in Micron Technology during the fourth quarter worth approximately $37,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research reports. UBS Group increased their price target on Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Wedbush raised their target price on Micron Technology from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $172.00 target price on shares of Micron Technology in a report on Monday. Barclays cut their price target on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating and lifted their price objective for the stock from $130.00 to $150.00 in a research note on Friday, June 20th. One equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.75.

Micron Technology Stock Down 0.5%

Shares of Micron Technology stock opened at $127.25 on Thursday. The firm has a market cap of $142.21 billion, a price-to-earnings ratio of 30.52 and a beta of 1.28. The stock has a 50-day simple moving average of $96.45 and a 200-day simple moving average of $93.89. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $144.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.83 billion. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. During the same period in the previous year, the company earned $0.62 earnings per share. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Insider Activity at Micron Technology

In related news, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president now directly owns 186,353 shares of the company’s stock, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $192,320.00. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 37,404 shares of company stock valued at $4,130,167. Insiders own 0.30% of the company’s stock.

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.