3,304 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 3,304 shares of the semiconductor manufacturer's stock, valued at approximately $287,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $26,000. Beacon Capital Management LLC grew its stake in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the first quarter valued at $33,000. Finally, Curio Wealth LLC purchased a new position in Micron Technology in the fourth quarter valued at $34,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $119.84 on Tuesday. The firm's fifty day simple moving average is $89.28 and its 200-day simple moving average is $92.68. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The stock has a market capitalization of $133.93 billion, a price-to-earnings ratio of 34.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The business's revenue was up 38.2% compared to the same quarter last year. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology's payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In related news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now directly owns 186,353 shares in the company, valued at $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,904 shares of company stock worth $4,665,124. Company insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on Micron Technology from $110.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, June 9th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Wedbush reiterated an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, Mizuho lifted their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average target price of $129.00.

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.

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