Prentice Wealth Management LLC Invests $334,000 in Micron Technology, Inc. (NASDAQ:MU)

Prentice Wealth Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,837 shares of the semiconductor manufacturer’s stock, valued at approximately $334,000.

A number of other hedge funds have also made changes to their positions in MU. Cary Street Partners Investment Advisory LLC lifted its stake in Micron Technology by 52.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,951 shares of the semiconductor manufacturer’s stock valued at $201,000 after buying an additional 1,018 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Micron Technology by 10.9% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,196 shares of the semiconductor manufacturer’s stock worth $1,102,000 after purchasing an additional 1,598 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Micron Technology during the 3rd quarter valued at about $2,669,000. Natixis Advisors L.P. lifted its holdings in shares of Micron Technology by 15.8% during the 3rd quarter. Natixis Advisors L.P. now owns 501,183 shares of the semiconductor manufacturer’s stock valued at $34,095,000 after buying an additional 68,438 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Micron Technology by 10.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 3,431 shares of the semiconductor manufacturer’s stock worth $233,000 after purchasing an additional 329 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total value of $854,630.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total value of $854,630.00. Following the completion of the sale, the chief executive officer now owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total transaction of $1,851,300.00. Following the sale, the senior vice president now directly owns 138,387 shares of the company’s stock, valued at approximately $17,079,723.54. The disclosure for this sale can be found here. Insiders sold a total of 304,840 shares of company stock worth $37,961,924 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MU. Piper Sandler lifted their price target on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. KeyCorp upped their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Bank of America upped their price target on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Barclays boosted their price objective on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, Stifel Nicolaus boosted their price objective on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.00.

Micron Technology Stock Performance

Shares of MU stock traded up $0.42 during mid-day trading on Wednesday, hitting $141.54. 28,927,787 shares of the stock were exchanged, compared to its average volume of 19,990,426. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $157.54. The stock’s fifty day simple moving average is $126.64 and its two-hundred day simple moving average is $105.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology 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.