Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Beacon Investment Advisory Services Inc.

Posted by Defense World Staff on Mar 24th, 2023

Beacon Investment Advisory Services Inc. trimmed its position in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 23.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,151 shares of the semiconductor manufacturer’s stock after selling 2,211 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Micron Technology were worth $357,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. increased its position in Micron Technology by 59.2% during the third quarter. Washington Trust Advisors Inc. now owns 551 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 205 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Micron Technology by 207.0% in the third quarter. Sound Income Strategies LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $35,000 after acquiring an additional 476 shares in the last quarter. Financial Management Professionals Inc. boosted its position in Micron Technology by 44.7% in the third quarter. Financial Management Professionals Inc. now owns 689 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 213 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in Micron Technology in the third quarter valued at approximately $40,000. Finally, FinTrust Capital Advisors LLC boosted its position in Micron Technology by 58.0% in the third quarter. FinTrust Capital Advisors LLC now owns 790 shares of the semiconductor manufacturer’s stock valued at $42,000 after buying an additional 290 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Up 5.4 %

Shares of MU opened at $61.34 on Friday. Micron Technology, Inc. has a 52-week low of $48.43 and a 52-week high of $86.24. The company has a market capitalization of $66.93 billion, a PE ratio of 11.13 and a beta of 1.39. The stock has a fifty day simple moving average of $58.74 and a two-hundred day simple moving average of $55.84. The company has a quick ratio of 2.23, a current ratio of 3.51 and a debt-to-equity ratio of 0.20.

Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.14 billion. Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The business’s revenue for the quarter was down 46.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.07 earnings per share. As a group, equities analysts forecast that Micron Technology, Inc. will post -2.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MU. StockNews.com began coverage on Micron Technology in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. UBS Group dropped their target price on Micron Technology from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, December 22nd. Cowen lowered their price objective on Micron Technology from $70.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, December 22nd. Argus lowered Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 30th. Finally, Morgan Stanley lowered their price objective on Micron Technology from $49.00 to $46.00 and set an “underweight” rating on the stock in a research report on Thursday, December 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $66.26.

Insider Transactions at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $53.40, for a total transaction of $1,068,000.00. Following the completion of the transaction, the executive vice president now directly owns 228,340 shares in the company, valued at approximately $12,193,356. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP April S. Arnzen sold 24,000 shares of the firm’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $61.91, for a total transaction of $1,485,840.00. Following the completion of the transaction, the senior vice president now directly owns 118,885 shares in the company, valued at approximately $7,360,170.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $53.40, for a total value of $1,068,000.00. Following the transaction, the executive vice president now owns 228,340 shares of the company’s stock, valued at $12,193,356. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,000 shares of company stock worth $3,982,190. 0.32% of the stock is currently owned by company insiders.

Micron Technology Company Profile

(Get Rating)

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