Micron Technology, Inc. (NASDAQ:MU) Shares Sold by MRP Capital Investments LLC

MRP Capital Investments LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 34.8% during the fourth quarter, Holdings Channel reports. The fund owned 6,510 shares of the semiconductor manufacturer’s stock after selling 3,475 shares during the quarter. MRP Capital Investments LLC’s holdings in Micron Technology were worth $548,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Beacon Capital Management LLC boosted its stake in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares during the last quarter. True Wealth Design LLC boosted its stake in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Micron Technology in the 4th quarter worth about $33,000. Stone House Investment Management LLC boosted its stake in Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the last quarter. Finally, Activest Wealth Management lifted its stake in shares of Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly 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 document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on MU. Piper Sandler reduced their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, UBS Group boosted their price target on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

Micron Technology Trading Up 0.9 %

Shares of Micron Technology stock opened at $103.00 on Friday. The business has a fifty day simple moving average of $96.92 and a 200-day simple moving average of $98.22. The firm has a market cap of $114.76 billion, a price-to-earnings ratio of 29.68 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

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.