Blair William & Co. IL Buys 6,829 Shares of Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Blair William & Co. IL has increased its stake in Micron Technology by 2.3%, now holding 307,150 shares valued at approximately $26.7 million.
• Analysts have raised their target prices for Micron Technology, with estimates now ranging from $140.00 to $200.00, indicating a consensus rating of "Moderate Buy."
• The company reported earnings of $1.91 per share, exceeding expectations, along with a revenue of $9.30 billion for the last quarter.

Blair William & Co. IL increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 307,150 shares of the semiconductor manufacturer's stock after acquiring an additional 6,829 shares during the period. Blair William & Co. IL's holdings in Micron Technology were worth $26,688,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Capital World Investors increased its stake in Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after acquiring an additional 15,993,036 shares during the period. FMR LLC boosted its stake in Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after buying an additional 12,249,341 shares in the last quarter. Capital Research Global Investors boosted its stake in Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after buying an additional 9,489,579 shares in the last quarter. Capital International Investors boosted its stake in Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after buying an additional 4,375,232 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Micron Technology by 198.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,545,882 shares of the semiconductor manufacturer's stock valued at $550,903,000 after purchasing an additional 4,352,225 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In related news, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the sale, the chief financial officer directly owned 264,036 shares in the company, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 286,042 shares of company stock worth $34,679,277 in the last three months. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald lifted their price objective on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Barclays boosted their target price on Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Citigroup boosted their target price on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. KeyCorp upped their price objective on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Wedbush upped their price objective on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, five 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.

Micron Technology Stock Up 0.4%

MU stock traded up $0.38 during trading hours on Tuesday, reaching $108.15. 5,422,181 shares of the stock were exchanged, compared to its average volume of 23,127,889. The firm's 50-day moving average is $114.65 and its 200-day moving average is $97.93. The company has a market cap of $121.04 billion, a price-to-earnings ratio of 19.45 and a beta of 1.37. 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 12 month low of $61.54 and a 12 month high of $129.85.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter in the prior year, the company earned $0.62 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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