Micron Technology, Inc. (NASDAQ:MU) has made a 60.34% comeback from a 12-month low price of $28.39. It was seen 1.9% higher, changing the price to $45.52, when the closing bell rang on 7/19/2019. At a recent session, the prices were hovering between $44.63 and $46. This company shares are -3.43% up from its target price of $43.96 and the current market capitalization stands at $50.3B. The recent change has given its price a 23.57% lead over SMA 50 and -20.91% deficit over its 52-week high. The stock witnessed 34.12% gains, 4.88% gains and 34.36% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found MU’s volatility during a week at 3.07% and during a month it has been found around 3.45%.
What Does Micron Technology, Inc. (MU) Do?
The company describes itself in regulatory filings as, “Micron Technology, Inc. engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets. The Mobile Business Unit segment offers memory products sold into smartphone, and other mobile-device markets. The Storage Business Unit segment comprises of SSDs and component-level solutions sold into enterprise and cloud, client, and consumer solid-state drive (SSD) markets, other discrete storage products sold in component and wafer forms to the removable storage markets, and sales of 3D XPoint memory. The Embedded Business Unit segment consists of memory and storage products sold into automotive, industrial, and consumer markets. The company was founded by Ward D. Parkinson, Joseph L. Parkinson, Dennis Wilson, and Doug Pitman in October 1978 and is headquartered in Boise, ID.” [Text can be found here: https://www.marketwatch.com/investing/stock/MU/profile under company description.]Micron Technology, Inc. (MU) Top Holders
Institutional investors currently hold around $39.41 billion or 81% in MU stock. Look at its top three institutional owners: Vanguard Group Inc owns $3.92 billion in Micron Technology, Inc., which represents roughly 7.79% of the company’s market cap and approximately 9.95% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 72,652,934 shares of the stock are valued at $3.31 billion. The third largest holder is Primecap Management Co/Ca/, which currently holds $2.63 billion worth of this stock and that ownership represents nearly 5.23% of its market capitalization.Micron Technology, Inc. 13F Filings
At the end of March reporting period, 430 institutional holders increased their position in Micron Technology, Inc. (NASDAQ:MU) by some 108,467,357 shares, 459 decreased positions by 97,250,907 and 123 held positions by 660,064,359. That puts total institutional holdings at 865,782,623 shares, according to SEC filings. The stock grabbed 115 new institutional investments totaling 31,693,333 shares while 108 institutional investors sold out their entire positions totaling 14,867,428 shares.Micron Technology, Inc. (NASDAQ:MU) Insider Trades
Multiple company employees have indulged in significant insider trading. Micron Technology, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that EVP, Technology Development Deboer Scott J has sold 20,000 shares of Micron Technology, Inc. (MU) in the trading session dated Jul. 15, 2019. These shares are worth $900,000 and were traded at $45 each. The SEC filing shows that ARNZEN APRIL S performed a sale of 4,800 shares. The SVP, Human Resources disposed these shares by way of transaction on Jul. 15, 2019. The company’s shares were given away at $45 per share worth to an income of some $216,000 to the account of ARNZEN APRIL S.
Counsel & Corporate Secretary, Poppen Joel L, sold 20,210 common shares of Micron Technology, Inc. (MU) in the open market. In a transaction dated Apr. 15, 2019, the shares were put up for sale at an average price of $41.45, raking in a sum of $837,705. After this sale, 249,158 common shares of MU are directly owned by the insider, with total stake valued at $11,341,672.
In the transaction dated Mar. 27, 2019, a great number of shares sold came courtesy the SVP, Human Resources; ARNZEN APRIL S disposed a total of 21,182 shares at an average price of $39.39, amounting to approximately $834,359. The insider now directly owns 84,192 shares worth $3,832,420.Micron Technology, Inc. (MU) Analyst Guide
Several analysts have released their opinion on Micron Technology, Inc. (NASDAQ:MU), with 5 analysts believing it is a strong buy. Whereas 12 of them predict the stock is a hold. Also, there are 13 buy, 2 sell and 2 strong sell ratings, collectively assigning a 2.5 average brokerage recommendation [T1].