Xponance Inc. Decreases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Xponance Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 154,407 shares of the semiconductor manufacturer’s stock after selling 1,431 shares during the period. Xponance Inc.’s holdings in Micron Technology were worth $12,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Beacon Capital Management LLC increased its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC increased its stake in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. Midwest Capital Advisors LLC purchased a new stake in Micron Technology in the fourth quarter worth $33,000. Stone House Investment Management LLC increased its stake in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the period. Finally, Activest Wealth Management increased its stake in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was 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. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value 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. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent analyst reports. UBS Group increased their target price on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho dropped 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. Wedbush reissued an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a research report on Monday. Morgan Stanley dropped their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Finally, Sanford C. Bernstein dropped their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. One research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $134.16.

Micron Technology Price Performance

Shares of MU stock opened at $101.72 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The firm has a market capitalization of $113.33 billion, a price-to-earnings ratio of 29.31 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock’s 50-day simple moving average is $96.79 and its 200-day simple moving average is $98.16.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the firm earned ($0.95) earnings per share. The company’s revenue was up 84.3% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

About Micron Technology

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.