Options Solutions LLC Acquires $233,000 Stake in Micron Technology (NASDAQ: MU)
Options Solutions LLC has taken a significant new position in Micron Technology, Inc. (NASDAQ:MU), as per the latest disclosure with the Securities & Exchange Commission (SEC). The institutional investor purchased 2,727 shares of the semiconductor manufacturer’s stock, valued at nearly $233,000 during the fourth quarter.
Institutional Investors Bolster Positions
Several large institutional investors have also ramped up their investments in Micron Technology:
- Norges Bank acquired a new position worth approximately $769,372,000.
- FMR LLC bolstered its stake by 47.9% in the third quarter, now owning 21,899,184 shares valued at $1,489,801,000 after an additional 7,089,790 shares were purchased.
- Wellington Management Group LLP increased its stake by 43.4%, now holding 17,383,628 shares valued at around $1,182,608,000 after purchasing 5,257,201 shares.
- Morgan Stanley increased its holding by 19.7%, now owning 17,303,400 shares valued at $1,177,151,000 after acquiring 2,852,688 shares.
- California Public Employees Retirement System doubled its stake by 125.0%, now holding 4,541,662 shares valued at $387,585,000 after adding 2,523,267 shares.
Institutional investors and hedge funds currently own 80.84% of Micron Technology's stock.
Insider Transactions at Micron Technology
CEO Sanjay Mehrotra sold 7,000 shares at an average price of $93.08, totaling $651,560. Post-transaction, he retains ownership of 773,557 shares valued at nearly $72,002,685.56.
In another significant transaction, EVP Manish H. Bhatia sold 53,317 shares at $119.18 each, amounting to $6,354,320.06. He now holds 319,119 shares valued at approximately $38,032,602.42.
**Insiders have sold a total of 372,446 shares worth nearly $44,478,193 in the last quarter, owning just 0.32% of the company's stock remaining.
Micron Technology Stock Performance
The firm's stock, trading as MU, opened at $141.36 on Friday. With a market capitalization of $156.54 billion, the company's P/E ratio stands at -40.97, and it has a beta of 1.21.
Micron Technology has a 1-year low of $60.50 and a high of $144.22. The company's current ratio is 3.74, with a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.
Earnings and Revenue Upbeat
Micron Technology recently reported its quarterly earnings on March 20:
- Earnings per share (EPS): $0.42, surpassing analyst expectations of ($0.27) by $0.69.
- Revenue was $5.82 billion, exceeding estimates of $5.35 billion.
Performance marked an impressive 57.7% revenue increase compared to the same quarter last year, overcoming a period where EPS was -2.03.
Analyst Ratings
Recent analyst ratings reflect strong confidence in Micron Technology's performance:
- Wedbush: Raised price target from $103.00 to $130.00; rated “outperform”.
- The Goldman Sachs Group: Increased price target from $122.00 to $138.00; rate “buy”.
- Needham & Company LLC: Raised price target from $100.00 to $120.00; rate “buy”.
- Barclays: Increased price target from $120.00 to $145.00; rate “overweight”.
Overall, Micron Technology has an average “Moderate Buy” rating, with a consensus price target of $130.16 from leading analysts.
Micron Technology Company Profile
Micron Technology, Inc. is a global leader in the design, development, and manufacture of memory and storage products. The company operates through four primary segments:
- Compute and Networking Business Unit
- Mobile Business Unit
- Embedded Business Unit
- Storage Business Unit
Under its Micron and Crucial brands, the company offers advanced memory and storage technologies, including high-speed dynamic random access memory (DRAM) and non-volatile re-writable semiconductor memory devices.
For more insights about Micron Technology’s latest market movements and strategic initiatives, visit Micron Technology.
