Ballentine Partners LLC Sells 21,157 Shares of Micron Technology, Inc. (NASDAQ:MU)

Ballentine Partners LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 102,291 shares of the semiconductor manufacturer's stock after selling 21,157 shares during the quarter. Ballentine Partners LLC's holdings in Micron Technology were worth $8,888,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after acquiring an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Micron Technology by 19.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after acquiring an additional 13,985 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Micron Technology by 74.7% during the 4th quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after acquiring an additional 1,734 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Micron Technology by 18.0% during the 4th quarter. Citizens Financial Group Inc. RI now owns 6,830 shares of the semiconductor manufacturer's stock worth $575,000 after acquiring an additional 1,041 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new position in Micron Technology during the 4th quarter worth $842,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the topic of a number of analyst reports. Susquehanna lifted their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday, June 26th. Raymond James Financial boosted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Bank of America boosted their price target 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. TD Cowen boosted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, Cantor Fitzgerald boosted their price target on shares of Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $146.44.

Insider Activity at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction that occurred 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 sale, the director owned 22,762 shares of the company's stock, valued at $2,848,664.30. This represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the sale, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock valued at $31,154,717 in the last ninety days. Insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of MU traded up $1.42 during midday trading on Friday, hitting $124.53. 15,803,821 shares of the company traded hands, compared to its average volume of 23,241,822. The stock has a 50-day moving average of $108.03 and a 200-day moving average of $95.92. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $135.35. The firm has a market cap of $139.36 billion, a P/E ratio of 22.44 and a beta of 1.35. 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 (NASDAQ:MU - Get Free Report) last announced its quarterly 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. 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 analysts' expectations of $8.83 billion. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio 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.