Guardian Investment Management lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,350 shares of the semiconductor manufacturer’s stock after selling 4,600 shares during the period. Guardian Investment Management’s holdings in Micron Technology were worth $677,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lavaca Capital LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $29,000. Intercontinental Wealth Advisors LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $31,000. Baystate Wealth Management LLC grew its stake in shares of Micron Technology by 525.0% during the fourth quarter. Baystate Wealth Management LLC now owns 1,000 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 840 shares during the last quarter. First Personal Financial Services bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $32,000. Finally, Csenge Advisory Group bought a new stake in shares of Micron Technology during the third quarter valued at approximately $41,000. 77.64% of the stock is owned by institutional investors.
Shares of NASDAQ:MU traded up $0.84 during midday trading on Wednesday, reaching $41.24. 11,047,119 shares of the company were exchanged, compared to its average volume of 36,591,715. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $64.66. The company has a quick ratio of 2.15, a current ratio of 2.90 and a debt-to-equity ratio of 0.11. The firm has a market cap of $45.29 billion, a price-to-earnings ratio of 3.49, a PEG ratio of 0.79 and a beta of 1.85.
MU has been the topic of a number of recent research reports. Piper Jaffray Companies set a $48.00 price objective on shares of Micron Technology and gave the company a “hold” rating in a research note on Saturday, October 20th. Raymond James initiated coverage on shares of Micron Technology in a research note on Monday, October 22nd. They issued a “market perform” rating on the stock. UBS Group cut shares of Micron Technology from a “positive” rating to a “neutral” rating in a research note on Tuesday, October 23rd. Susquehanna Bancshares cut shares of Micron Technology from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $45.00 in a research note on Tuesday, October 23rd. Finally, Barclays reduced their price objective on shares of Micron Technology from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $59.52.
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About Micron Technology
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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