Parallel Advisors LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Parallel Advisors LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,793 shares of the semiconductor manufacturer’s stock after buying an additional 647 shares during the quarter. Parallel Advisors LLC’s holdings in Micron Technology were worth $1,498,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MU. Beacon Capital Management LLC raised its position in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. True Wealth Design LLC raised its position in Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the period. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $33,000. Stone House Investment Management LLC increased its position in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the last quarter. Finally, Activest Wealth Management raised its holdings in Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 350 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

MU opened at $101.72 on Wednesday. The firm has a market capitalization of $113.33 billion, a PE ratio of 29.31 and a beta of 1.23. The business’s 50-day moving average is $96.79 and its two-hundred day moving average is $98.16. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.95) earnings per share. Research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Mizuho cut their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. UBS Group raised their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday. Barclays cut their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Finally, Needham & Company LLC decreased their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

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.