Prentice Wealth Management LLC Buys New Shares in Micron Technology, Inc. (NASDAQ:MU)

Prentice Wealth Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the first quarter, HoldingsChannel reports. The fund acquired 2,837 shares of the semiconductor manufacturer’s stock, valued at approximately $334,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Merlin Capital Inc bought a new position in Micron Technology in the 3rd quarter valued at about $407,000. TCW Group Inc. increased its holdings in Micron Technology by 5.7% in the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after buying an additional 28,649 shares during the period. Gulf International Bank UK Ltd increased its holdings in Micron Technology by 6.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after buying an additional 5,958 shares during the period. Savoie Capital LLC bought a new position in Micron Technology in the 3rd quarter valued at about $4,229,000. Finally, TrinityPoint Wealth LLC grew its holdings in shares of Micron Technology by 33.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after purchasing an additional 8,736 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 0.3 %

NASDAQ:MU traded up $0.42 during trading hours on Wednesday, hitting $141.54. The company had a trading volume of 28,927,787 shares, compared to its average volume of 19,990,426. The stock has a 50-day moving average price of $126.64 and a 200 day moving average price of $105.26. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $94,712,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the sale, the chief executive officer now owns 728,557 shares in the company, valued at approximately $94,712,410. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,840 shares of company stock valued at $37,961,924. 0.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Micron Technology from $122.00 to $138.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. UBS Group lifted their price target on shares of Micron Technology from $125.00 to $155.00 and gave the company a “buy” rating in a report on Monday, June 10th. Bank of America lifted their price target on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Stifel Nicolaus lifted their price target on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.00.

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.