DE Burlo Group Inc. Trims Stock Position in Micron Technology, Inc. (NASDAQ:MU)

DE Burlo Group Inc. decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 39.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,990 shares of the semiconductor manufacturer’s stock after selling 89,010 shares during the period. Micron Technology comprises 2.4% of DE Burlo Group Inc.’s portfolio, making the stock its 17th largest holding. DE Burlo Group Inc.’s holdings in Micron Technology were worth $18,150,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MU. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the first quarter valued at $25,000. Pingora Partners LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the 2nd quarter valued at about $28,000. Frank Rimerman Advisors LLC purchased a new position in Micron Technology during the fourth quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC raised its position in shares of Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU stock opened at $95.77 on Thursday. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The firm has a market capitalization of $106.19 billion, a price-to-earnings ratio of -67.44, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The business has a 50 day simple moving average of $98.39 and a 200 day simple moving average of $114.77.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.57) EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup cut their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Bank of America lifted their target price on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. Wolfe Research increased their price target on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. JPMorgan Chase & Co. boosted their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, The Goldman Sachs Group increased their target price on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.65.

Micron Technology Company 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.