2,901 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Sfmg LLC

Key Points

• Sfmg LLC acquired a new position in Micron Technology, purchasing 2,901 shares valued at approximately $252,000 in the first quarter.
• Micron Technology reported a quarterly EPS of $1.91, exceeding the consensus estimate of $1.57, along with a revenue of $9.30 billion for the quarter.
• The company recently declared a quarterly dividend of $0.115 per share, representing an annual yield of 0.4% and a payout ratio of 8.29%.

Sfmg LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,901 shares of the semiconductor manufacturer's stock, valued at approximately $252,000.

Other large investors have also recently added to or reduced their stakes in the company. Duquesne Family Office LLC acquired a new position in Micron Technology in the 4th quarter worth $34,412,000. Janus Henderson Group PLC boosted its stake in shares of Micron Technology by 74.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after buying an additional 1,130,680 shares during the last quarter. Mission Wealth Management LP increased its stake in shares of Micron Technology by 195.2% in the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock worth $1,360,000 after buying an additional 10,348 shares during the last quarter. Centre Asset Management LLC bought a new stake in shares of Micron Technology in the 1st quarter worth about $7,720,000. Finally, ProShare Advisors LLC lifted its position in shares of Micron Technology by 16.9% during the fourth quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer's stock worth $138,945,000 after purchasing an additional 238,687 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock valued at $34,679,277 in the last quarter. Company insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

MU has been the topic of several research reports. Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Mizuho lifted their price target on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Bank of America raised their target price on shares of Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. increased their price target on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, Barclays boosted their price objective on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and a consensus price target of $146.44.

Micron Technology Trading Down 0.3%

Micron Technology stock traded down $0.28 during mid-day trading on Wednesday, hitting $108.78. 12,285,305 shares of the company's stock were exchanged, compared to its average volume of 21,489,900. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $129.85. The company's 50 day simple moving average is $114.91 and its 200-day simple moving average is $98.01. The firm has a market capitalization of $121.74 billion, a P/E ratio of 19.60 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the business posted $0.62 EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is 8.29%.

About Micron Technology

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.