Adams Diversified Equity Fund Inc. Lowers Stake in Micron Technology, Inc. (NASDAQ:MU)

Adams Diversified Equity Fund Inc. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,000 shares of the semiconductor manufacturer’s stock after selling 28,300 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in Micron Technology were worth $12,540,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology in the fourth quarter worth $33,000. Stone House Investment Management LLC lifted its holdings in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares in the last quarter. Finally, Activest Wealth Management raised its stake in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MU shares. Robert W. Baird decreased their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. UBS Group upped their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group decreased their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Sanford C. Bernstein decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.16.

Micron Technology Stock Up 0.9 %

Shares of Micron Technology stock opened at $103.00 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54. The firm’s 50-day moving average is $96.92 and its two-hundred day moving average is $98.22. The stock has a market cap of $114.76 billion, a price-to-earnings ratio of 29.68 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the prior year, the business earned $0.42 EPS. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

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.