RMR Wealth Builders Buys 283 Shares of Micron Technology, Inc. (NASDAQ:MU)

RMR Wealth Builders increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 11.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,718 shares of the semiconductor manufacturer’s stock after purchasing an additional 283 shares during the quarter. RMR Wealth Builders’ holdings in Micron Technology were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Norges Bank bought a new stake in Micron Technology during the 4th quarter valued at $769,372,000. Wellington Management Group LLP grew its position in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares in the last quarter. Morgan Stanley grew its position in shares of Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after purchasing an additional 2,852,688 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Micron Technology by 125.0% during 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. grew its position in shares of Micron Technology by 8,336.6% during the 3rd 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. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU traded up $2.11 during trading on Tuesday, hitting $141.12. The company’s stock had a trading volume of 32,129,309 shares, compared to its average volume of 19,912,680. The firm has a market cap of $156.27 billion, a PE ratio of -40.90 and a beta of 1.21. Micron Technology, Inc. has a one year low of $60.50 and a one year high of $157.54. The business’s 50 day simple moving average is $126.64 and its 200-day simple moving average is $105.26. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Analysts Set New Price Targets

Several brokerages recently issued reports on MU. Stifel Nicolaus upped their target price on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Cantor Fitzgerald upped their target price on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Finally, Wedbush boosted their price target on shares of Micron Technology from $130.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $153.00.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $109,496,781.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $109,496,781.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now 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. Over the last ninety days, insiders sold 309,730 shares of company stock valued at $38,545,301. Corporate insiders own 0.32% 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.