Arvest Investments Inc. Has $1.86 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Arvest Investments Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 6.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,115 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,273 shares during the period. Arvest Investments Inc.’s holdings in Micron Technology were worth $1,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebrook Private Inc. lifted its stake in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares in the last quarter. John G Ullman & Associates Inc. lifted its stake in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after buying an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC lifted its stake in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 100 shares in the last quarter. Xcel Wealth Management LLC lifted its stake in shares of Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after buying an additional 108 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MU shares. Barclays dropped their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Cantor Fitzgerald dropped their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Mizuho dropped their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Robert W. Baird decreased their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $134.16.

Micron Technology Price Performance

MU stock opened at $102.06 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The firm’s fifty day moving average is $96.84 and its 200 day moving average is $98.19. The firm has a market cap of $113.71 billion, a P/E ratio of 29.41 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter last year, the firm earned ($0.95) EPS. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Company 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.