Richelieu Gestion SA Sells 34,205 Shares of Micron Technology, Inc. (NASDAQ:MU)

Richelieu Gestion SA lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 64.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,100 shares of the semiconductor manufacturer’s stock after selling 34,205 shares during the quarter. Micron Technology accounts for approximately 2.3% of Richelieu Gestion SA’s investment portfolio, making the stock its 21st largest position. Richelieu Gestion SA’s holdings in Micron Technology were worth $2,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Merlin Capital Inc bought a new position in shares of Micron Technology during the 3rd quarter worth approximately $407,000. TCW Group Inc. lifted its stake in Micron Technology by 5.7% during the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after acquiring an additional 28,649 shares in the last quarter. Gulf International Bank UK Ltd lifted its stake in Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after acquiring an additional 5,958 shares in the last quarter. Savoie Capital LLC bought a new position in Micron Technology during the 3rd quarter valued at $4,229,000. Finally, TrinityPoint Wealth LLC lifted its stake in Micron Technology by 33.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after acquiring an additional 8,736 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction of $854,630.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares in the company, valued at $90,780,874.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s 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 in the company, valued at $90,780,874.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The disclosure for this sale can be found here. Insiders sold 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.

Micron Technology Price Performance

NASDAQ:MU traded up $0.25 during trading hours on Wednesday, reaching $141.37. 31,956,307 shares of the company’s stock were exchanged, compared to its average volume of 20,015,250. The company has a 50-day moving average of $126.64 and a 200 day moving average of $105.26. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1-year low of $60.50 and a 1-year high of $157.54.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MU shares. Piper Sandler raised their target price on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Mizuho raised their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Raymond James raised their target price on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Cantor Fitzgerald lifted their price objective on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Finally, Wolfe Research lifted their price objective on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $153.00.

About Micron Technology

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.