North Capital Inc. Acquires Shares of 2,685 Micron Technology, Inc. (NASDAQ:MU)

North Capital Inc. bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,685 shares of the semiconductor manufacturer's stock, valued at approximately $233,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after acquiring an additional 108 shares during the last quarter. Twin Capital Management Inc. increased its stake in shares of Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after buying an additional 108 shares during the period. Cim Investment Management Inc. boosted its position in Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after buying an additional 114 shares during the period. Hazlett Burt & Watson Inc. grew its holdings in Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock worth $883,000 after acquiring an additional 119 shares during the last quarter. Finally, FineMark National Bank & Trust raised its stake in shares of Micron Technology by 3.9% during the fourth quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock valued at $306,000 after acquiring an additional 136 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the sale, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares of the company's stock, valued at $25,264,399.74. This represents a 31.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $0.29 during trading on Thursday, hitting $122.03. 13,247,931 shares of the company's stock traded hands, compared to its average volume of 23,335,060. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $137.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company has a market cap of $136.56 billion, a PE ratio of 21.99 and a beta of 1.35. The firm's fifty day moving average price is $101.83 and its 200 day moving average price is $94.67.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. Analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MU shares. Citigroup boosted their price target on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Stifel Nicolaus increased their price objective on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Piper Sandler boosted their price target on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Bank of America increased their target price on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Finally, Royal Bank Of Canada set a $125.00 price target on shares of Micron Technology in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and a consensus target price of $146.21.

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.