Founders Capital Management Sells 100 Shares of Micron Technology, Inc. (NASDAQ:MU)

Founders Capital Management reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,000 shares of the semiconductor manufacturer’s stock after selling 100 shares during the quarter. Founders Capital Management’s holdings in Micron Technology were worth $118,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Micron Technology by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock valued at $8,106,001,000 after acquiring an additional 755,588 shares during the period. Sanders Capital LLC lifted its position in shares of Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after acquiring an additional 503,923 shares during the period. Wellington Management Group LLP lifted 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 acquiring an additional 5,257,201 shares during the period. Morgan Stanley lifted 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 acquiring an additional 2,852,688 shares during the period. Finally, Capital International Investors lifted its position in shares of Micron Technology by 2.3% during the 4th quarter. Capital International Investors now owns 15,905,621 shares of the semiconductor manufacturer’s stock valued at $1,357,392,000 after acquiring an additional 363,902 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

Shares of Micron Technology stock traded down $9.26 on Thursday, reaching $144.19. The stock had a trading volume of 41,196,004 shares, compared to its average volume of 19,439,045. Micron Technology, Inc. has a 1 year low of $60.50 and a 1 year high of $157.54. The company has a market cap of $159.67 billion, a P/E ratio of -41.79 and a beta of 1.21. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $125.56 and its two-hundred day moving average is $103.45.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period last year, the firm posted ($2.03) earnings per share. As a group, research analysts anticipate that Micron Technology, Inc. will post 0.3 EPS for the current year.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $89,226,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $89,226,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The disclosure for this sale can be found here. Insiders have sold 320,446 shares of company stock valued at $38,724,533 over the last three months. 0.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Needham & Company LLC upped their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Monday, March 18th. Robert W. Baird upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $115.00 to $150.00 in a report on Monday, May 6th. Finally, UBS Group upped their price objective on shares of Micron Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.12.

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.