Bell Bank Invests $327,000 in Micron Technology, Inc. (NASDAQ:MU)

Bell Bank bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,763 shares of the semiconductor manufacturer's stock, valued at approximately $327,000.

Several other large investors have also recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the fourth quarter valued at approximately $33,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology during the first quarter worth approximately $33,000. Curio Wealth LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $34,000. Finally, Hurley Capital LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $37,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Up 0.4%

MU stock opened at $120.34 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99. The firm has a market capitalization of $134.49 billion, a P/E ratio of 28.86 and a beta of 1.28. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The company's 50 day simple moving average is $90.13 and its 200-day simple moving average is $92.87.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping 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 10.87% and a net margin of 14.92%. Micron Technology's revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology's payout ratio is 11.03%.

Analysts Set New Price Targets

A number of research firms have weighed in on MU. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday. Mizuho upped their target price on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Barclays lowered their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley cut their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Finally, Robert W. Baird raised their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.00.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 3,938 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.88, for a total value of $436,645.44. Following the completion of the sale, the chief executive officer now directly owns 387,175 shares in the company, valued at approximately $42,929,964. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,904 shares of company stock worth $4,665,124. 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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