BayBridge Capital Group LLC Purchases New Position in Micron Technology, Inc. (NASDAQ:MU)

BayBridge Capital Group LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,176 shares of the semiconductor manufacturer's stock, valued at approximately $276,000.

A number of other institutional investors have also recently made changes to their positions in the business. Xcel Wealth Management LLC boosted its position in shares of Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after acquiring an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after acquiring an additional 108 shares in the last quarter. Twin Capital Management Inc. raised its holdings in Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after purchasing an additional 108 shares in the last quarter. Cim Investment Management Inc. boosted its holdings in Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after acquiring an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock valued at $883,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on MU shares. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Robert W. Baird upped their price target on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Rosenblatt Securities cut their price objective on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, March 21st. KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Barclays cut their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $129.00.

Micron Technology Trading Down 0.5%

Shares of NASDAQ:MU opened at $115.60 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market cap of $129.19 billion, a PE ratio of 33.31 and a beta of 1.28. The business has a 50 day moving average of $88.20 and a 200-day moving average of $92.57. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, equities research 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 was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 3,562 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.46, for a total transaction of $393,458.52. Following the completion of the transaction, the chief executive officer now directly owns 391,113 shares in the company, valued at $43,202,341.98. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares of the company's stock, valued at approximately $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,904 shares of company stock worth $4,665,124 over the last three months. Corporate insiders own 0.30% of the company's stock.

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.

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