Institutional Investors Increase Micron Technology Holdings
PKO Investment Management Joint Stock Co increased its position in Micron Technology, Inc. (NASDAQ:MU) by 4.2% during the first quarter, according to its latest SEC filing. The firm now owns 75,000 shares valued at $6,517,000. Other institutional investors, including Insigneo Advisory Services LLC, Blackston Financial Advisory Group LLC, Fortitude Advisory Group L.L.C., Grove Bank & Trust, and Grimes & Company Inc., have also adjusted their holdings in the semiconductor manufacturer.
Analyst Ratings and Price Targets
Several research analysts have recently updated their ratings and price targets for Micron Technology. JPMorgan Chase & Co. lowered its price target from $145.00 to $135.00 while maintaining an ‘overweight’ rating. Wedbush reiterated an ‘underperform’ rating, while Rosenblatt Securities dropped its price target from $250.00 to $200.00 and maintained a ‘buy’ rating. The stock currently has an average rating of ‘Moderate Buy’ with a consensus target price of $129.00.
Stock Performance
Micron Technology’s stock traded up 0.4% to $120.34 during mid-day trading on Tuesday, with a trading volume of 20,778,387 shares. The company’s market capitalization stands at $134.49 billion, with a PE ratio of 34.68 and a beta of 1.28. The firm recently announced a quarterly dividend of $0.115 per share, representing a 0.38% yield.
Insider Transactions
Insider activity includes Director Mary Pat Mccarthy selling 2,404 shares at an average price of $80.00 and EVP Scott J. Deboer selling 20,000 shares at an average price of $110.00. Over the last quarter, insiders sold 44,904 shares worth $4,665,124. Corporate insiders currently own 0.30% of the company’s stock.
