Allium Financial Advisors LLC Makes New $221,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Allium Financial Advisors LLC acquired a new stake in Micron Technology by purchasing 2,545 shares worth approximately $221,000 during the 1st quarter of the year.
• Insider sales were notable, with EVP Manish H. Bhatia selling 80,000 shares for over $9.85 million, indicating a 22.53% decrease in ownership.
• Micron's most recent quarterly earnings surpassed expectations, reporting an EPS of $1.91 against a consensus estimate of $1.57, highlighting a strong revenue performance with $9.30 billion generated.

Allium Financial Advisors LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,545 shares of the semiconductor manufacturer's stock, valued at approximately $221,000.

A number of other institutional investors have also modified their holdings of MU. Sunbeam Capital Management LLC purchased a new position in Micron Technology in the fourth quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology during the 1st quarter worth about $33,000. AllSquare Wealth Management LLC lifted its holdings in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after buying an additional 200 shares during the last quarter. Hurley Capital LLC purchased a new stake in Micron Technology during the 4th quarter worth about $37,000. Finally, Roxbury Financial LLC lifted its holdings in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In other 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 transaction of $2,200,000.00. Following the sale, the executive vice president owned 186,353 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred 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 sale, the executive vice president directly owned 148,167 shares in the company, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,446 shares of company stock valued at $34,871,597 over the last ninety days. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MU. Morgan Stanley boosted their price target on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Arete Research upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Wells Fargo & Company boosted their price target on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Stifel Nicolaus boosted their price target on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, Citigroup boosted their price target on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $146.44.

Micron Technology Stock Up 0.3%

Shares of Micron Technology stock traded up $0.39 during trading hours on Tuesday, hitting $111.64. 8,424,028 shares of the company's stock traded hands, compared to its average volume of 23,259,229. The stock has a 50 day simple moving average of $113.19 and a 200-day simple moving average of $97.62. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a market cap of $124.94 billion, a PE ratio of 20.12 and a beta of 1.35. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85.

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

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued 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 0.41%. Micron Technology's dividend payout ratio is currently 8.29%.

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.