Assetmark Inc. Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Assetmark Inc. increased its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,252 shares of the semiconductor manufacturer's stock after acquiring an additional 5,293 shares during the period. Assetmark Inc.'s holdings in Micron Technology were worth $4,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its position in shares of Micron Technology by 43.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after purchasing an additional 4,264 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in Micron Technology by 167.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after buying an additional 28,621 shares during the last quarter. Duquesne Family Office LLC purchased a new stake in Micron Technology during the 4th quarter worth about $34,412,000. Janus Henderson Group PLC boosted its position 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 worth $222,779,000 after acquiring an additional 1,130,680 shares in the last quarter. Finally, Mission Wealth Management LP increased its holdings in shares of Micron Technology by 195.2% in the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock valued at $1,360,000 after acquiring an additional 10,348 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ MU traded down $4.05 during midday trading on Friday, hitting $105.09. The company had a trading volume of 12,963,944 shares, compared to its average volume of 23,237,254. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. 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 firm has a market capitalization of $117.61 billion, a price-to-earnings ratio of 18.96 and a beta of 1.35. The business has a 50-day simple moving average of $114.13 and a two-hundred day simple moving average of $97.94.

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

Micron Technology Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MU. Cantor Fitzgerald boosted their target price on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Robert W. Baird boosted their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Wells Fargo & Company upped their target price on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Micron Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $150.00 price target on the stock. Finally, Raymond James Financial upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Insiders Place Their Bets

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president directly owned 186,353 shares in the company, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president directly owned 148,167 shares in the company, valued at $18,538,655.04. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 286,042 shares of company stock valued at $34,679,277. Company insiders own 0.30% of the company's stock.

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.