Somerset Trust Co significantly increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 45.6% during the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund now owns 8,552 shares of the semiconductor manufacturer’s stock, valued at $743,000.
Other hedge funds have also shown interest in Micron Technology. Sunbeam Capital Management LLC acquired a new position worth $26,000 in the fourth quarter. Beacon Capital Management LLC increased its holdings by 114.9%, now owning 374 shares worth $31,000. Midwest Capital Advisors LLC and Comprehensive Financial Planning Inc. PA also purchased new positions worth $33,000 and $34,000, respectively. Activest Wealth Management boosted its holdings by 583.3%, now owning 410 shares valued at $34,000.
Insider activity includes Director Mary Pat Mccarthy selling 2,404 shares at $80.00, reducing her ownership by 8.79%. EVP April S. Arnzen sold 15,000 shares at $96.18, decreasing her ownership by 8.34%. In total, insiders have sold 19,808 shares worth $1,858,424 over the last ninety days.
Micron Technology’s stock opened at $94.42, with a 50-day moving average of $82.55 and a 200-day moving average of $91.98. The company has a market cap of $105.52 billion and a PE ratio of 27.21. Analysts have given Micron Technology a consensus rating of ‘Moderate Buy’ with a target price of $126.48.
