Norman Fields Gottscho Capital Management LLC Sells 200 Shares of Micron Technology, Inc. (NASDAQ:MU)

Norman Fields Gottscho Capital Management LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MUFree Report) by 1.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,995 shares of the semiconductor manufacturer’s stock after selling 200 shares during the period. Micron Technology makes up about 0.6% of Norman Fields Gottscho Capital Management LLC’s portfolio, making the stock its 24th biggest position. Norman Fields Gottscho Capital Management LLC’s holdings in Micron Technology were worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Micron Technology in the 4th quarter worth $769,372,000. Wellington Management Group LLP lifted its stake in Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares during the period. Morgan Stanley grew its holdings in Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after acquiring an additional 2,852,688 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Micron Technology by 125.0% in the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after purchasing an additional 2,523,267 shares in the last quarter. Finally, Phoenix Holdings Ltd. boosted its stake in shares of Micron Technology by 8,336.6% during the third quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock valued at $117,762,000 after purchasing an additional 1,753,262 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total value of $941,990.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $96,762,423.93. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $134.57, for a total value of $941,990.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $96,762,423.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 365,446 shares of company stock worth $43,826,633. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 3.8 %

Shares of MU stock traded up $5.62 during trading on Wednesday, reaching $153.45. The company’s stock had a trading volume of 42,192,569 shares, compared to its average volume of 15,150,144. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company has a market capitalization of $169.93 billion, a price-to-earnings ratio of -44.48 and a beta of 1.21. Micron Technology, Inc. has a 1-year low of $60.50 and a 1-year high of $157.54. The stock’s 50-day moving average price is $124.61 and its 200 day moving average price is $102.82.

Micron Technology (NASDAQ:MUGet Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period last year, the company earned ($2.03) earnings per share. On average, research analysts anticipate that Micron Technology, Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

MU has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Stifel Nicolaus boosted their price target on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Thursday, March 21st. Barclays raised their target price on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, Morgan Stanley raised shares of Micron Technology from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $98.00 to $130.00 in a research note on Monday, May 20th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.92.

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About Micron Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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