Corient Private Wealth LLC Sells 141,798 Shares of Micron Technology, Inc. (NASDAQ:MU)

Corient Private Wealth LLC lessened its position in Micron Technology, Inc. (NASDAQ:MU) by 32.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 293,044 shares of the semiconductor manufacturer’s stock after selling 141,798 shares during the period. Corient Private Wealth LLC’s holdings in Micron Technology were worth $24,662,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Avalon Trust Co bought a new stake in Micron Technology during the 4th quarter valued at about $61,000. Choate Investment Advisors lifted its holdings in Micron Technology by 34.1% during the 4th quarter. Choate Investment Advisors now owns 2,733 shares of the semiconductor manufacturer’s stock valued at $230,000 after buying an additional 695 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Micron Technology by 9.3% during the 4th quarter. Natixis Advisors LLC now owns 452,301 shares of the semiconductor manufacturer’s stock valued at $38,066,000 after buying an additional 38,435 shares in the last quarter. M & L Capital Management Ltd bought a new stake in Micron Technology during the 4th quarter valued at about $12,775,000. Finally, Frank Rimerman Advisors LLC lifted its holdings in Micron Technology by 3.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 15,502 shares of the semiconductor manufacturer’s stock valued at $1,305,000 after buying an additional 475 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 1.3 %

Shares of Micron Technology stock opened at $101.72 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The firm has a market capitalization of $113.33 billion, a price-to-earnings ratio of 29.31 and a beta of 1.23. The firm’s 50 day simple moving average is $96.79 and its two-hundred day simple moving average is $98.16.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.95) EPS. Analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler decreased their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Morgan Stanley reduced their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Micron Technology in a report on Monday. UBS Group boosted their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday. Finally, Stifel Nicolaus reduced their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the 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 sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.