Intellectus Partners LLC Has $1.35 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Intellectus Partners LLC lessened its position in Micron Technology, Inc. (NASDAQ:MU) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,164 shares of the semiconductor manufacturer’s stock after selling 3,039 shares during the period. Intellectus Partners LLC’s holdings in Micron Technology were worth $1,353,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Meritage Portfolio Management bought a new stake in Micron Technology during the third quarter worth $15,961,000. Perigon Wealth Management LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth approximately $397,000. Wealthsource Partners LLC purchased a new stake in shares of Micron Technology in the 3rd quarter worth approximately $221,000. River & Mercantile Asset Management LLP grew its stake in shares of Micron Technology by 3.4% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 231,414 shares of the semiconductor manufacturer’s stock worth $8,931,000 after buying an additional 7,600 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Micron Technology by 4.5% in the 3rd quarter. Cetera Investment Advisers now owns 17,462 shares of the semiconductor manufacturer’s stock worth $748,000 after buying an additional 747 shares during the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Joel L. Poppen sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $56.97, for a total value of $1,139,400.00. Following the transaction, the senior vice president now owns 301,395 shares in the company, valued at $17,170,473.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 4,534 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.10, for a total value of $209,017.40. The disclosure for this sale can be found here. Insiders sold 44,534 shares of company stock valued at $2,448,417 in the last three months. Insiders own 0.18% of the company’s stock.

Micron Technology stock traded down $1.84 during mid-day trading on Friday, reaching $57.36. The stock had a trading volume of 17,598,906 shares, compared to its average volume of 19,588,812. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.56. Micron Technology, Inc. has a fifty-two week low of $32.14 and a fifty-two week high of $60.56. The stock’s 50-day simple moving average is $54.27 and its 200-day simple moving average is $47.87. The firm has a market capitalization of $63.57 billion, a PE ratio of 18.62 and a beta of 1.98.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Micron Technology had a return on equity of 11.36% and a net margin of 17.01%. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the firm posted $2.97 earnings per share. The company’s revenue for the quarter was down 35.0% compared to the same quarter last year. On average, research analysts forecast that Micron Technology, Inc. will post 2.09 earnings per share for the current fiscal year.

MU has been the topic of several analyst reports. Deutsche Bank reaffirmed a “buy” rating and issued a $65.00 price objective (up from $55.00) on shares of Micron Technology in a research report on Thursday, December 19th. They noted that the move was a valuation call. Wells Fargo & Co boosted their target price on shares of Micron Technology from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. ValuEngine downgraded shares of Micron Technology from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 24th. Sanford C. Bernstein set a $65.00 target price on shares of Micron Technology and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Robert W. Baird boosted their target price on shares of Micron Technology from $30.00 to $45.00 and gave the company an “underperform” rating in a report on Thursday, December 19th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $62.97.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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