Envestnet Portfolio Solutions Inc. Has $2 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,716 shares of the semiconductor manufacturer’s stock after selling 2,618 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Micron Technology were worth $1,996,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its holdings in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after acquiring an additional 206,499 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Micron Technology by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after acquiring an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after acquiring an additional 2,022,180 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Micron Technology by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after acquiring an additional 144,897 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 0.9 %

Shares of MU opened at $103.00 on Friday. The firm’s 50 day simple moving average is $96.92 and its 200 day simple moving average is $98.22. The company has a market capitalization of $114.76 billion, a P/E ratio of 29.68 and a beta of 1.23. 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, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating 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 the consensus estimate of $7.93 billion. During the same period last year, the firm posted $0.42 earnings per share. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the 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 transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price 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. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. TD Cowen reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.16.

Micron Technology Company 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.