Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 149,000 shares of the semiconductor manufacturer’s stock after selling 28,300 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Micron Technology were worth $12,540,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Stone House Investment Management LLC increased its position in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares during the period. True Wealth Design LLC increased its position in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the period. Beacon Capital Management LLC increased its position in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Micron Technology in the 3rd quarter valued at $39,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $33,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MU. Mizuho cut their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus cut their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Cantor Fitzgerald cut their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. TD Cowen cut their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.16.

Micron Technology Trading Up 0.9 %

MU opened at $103.00 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company’s 50 day simple moving average is $96.92 and its two-hundred day simple moving average is $98.22. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The firm has a market capitalization of $114.76 billion, a price-to-earnings ratio of 29.68 and a beta of 1.23.

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

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.