Independent Solutions Wealth Management LLC Sells 17,895 Shares of Micron Technology, Inc. (NASDAQ:MU)

Independent Solutions Wealth Management LLC lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 85.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,063 shares of the semiconductor manufacturer’s stock after selling 17,895 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Micron Technology were worth $258,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Harmony Asset Management LLC increased its stake in Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after acquiring an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. increased its position in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after purchasing an additional 29,000 shares during the last quarter. E Fund Management Co. Ltd. raised its stake in Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. Stablepoint Partners LLC bought a new position in Micron Technology during the fourth quarter valued at $569,000. Finally, State Street Corp grew its stake in shares of Micron Technology by 3.1% in the 3rd 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 in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $103.00 on Friday. The company has a market cap of $114.76 billion, a PE ratio of 29.68 and a beta of 1.23. The firm’s 50 day moving average price is $96.92 and its 200-day moving average price is $98.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week 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 (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company lowered their price objective on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Sanford C. Bernstein cut their target price 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. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

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.