Bailard Inc. Sells 3,559 Shares of Micron Technology, Inc. (NASDAQ:MU)

Bailard Inc. cut its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,106 shares of the semiconductor manufacturer's stock after selling 3,559 shares during the quarter. Bailard Inc.'s holdings in Micron Technology were worth $3,832,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after buying an additional 976 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after buying an additional 13,985 shares during the period. Proficio Capital Partners LLC increased its holdings in Micron Technology by 74.7% in the 4th quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after buying an additional 1,734 shares during the period. Evoke Wealth LLC increased its holdings in Micron Technology by 7.1% in the 4th quarter. Evoke Wealth LLC now owns 2,656 shares of the semiconductor manufacturer's stock worth $224,000 after buying an additional 176 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new position in Micron Technology in the 4th quarter worth approximately $2,602,000. 80.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 186,353 shares in the company, valued at $20,498,830. This represents a 9.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the transaction, the director directly owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock worth $31,154,717 over the last 90 days. Insiders own 0.30% of the company's stock.

Micron Technology Trading Up 1.0%

NASDAQ:MU traded up $1.13 during mid-day trading on Friday, reaching $114.39. The company's stock had a trading volume of 19,315,466 shares, compared to its average volume of 23,336,961. The company's fifty day simple moving average is $111.39 and its two-hundred day simple moving average is $97.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The stock has a market cap of $128.02 billion, a P/E ratio of 20.61 and a beta of 1.35.

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 (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the company posted $0.62 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. Micron Technology's payout ratio is currently 8.29%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Morgan Stanley raised their target price on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Piper Sandler raised their target price on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. raised their target price on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Citigroup upped their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

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.