Bleakley Financial Group LLC Decreases Holdings in Micron Technology, Inc. (NASDAQ:MU)

Bleakley Financial Group LLC lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,237 shares of the semiconductor manufacturer's stock after selling 5,650 shares during the period. Bleakley Financial Group LLC's holdings in Micron Technology were worth $3,931,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Schear Investment Advisers LLC increased its stake in shares of Micron Technology by 51.5% during the 1st quarter. Schear Investment Advisers LLC now owns 20,356 shares of the semiconductor manufacturer's stock worth $1,769,000 after purchasing an additional 6,918 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in Micron Technology by 1,800.0% during the 1st quarter. Pittenger & Anderson Inc. now owns 2,375 shares of the semiconductor manufacturer's stock valued at $206,000 after purchasing an additional 2,250 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Micron Technology by 0.3% in the first quarter. Louisiana State Employees Retirement System now owns 141,300 shares of the semiconductor manufacturer's stock worth $12,278,000 after acquiring an additional 400 shares during the last quarter. Arizona State Retirement System grew its position in shares of Micron Technology by 2.1% during the 1st quarter. Arizona State Retirement System now owns 326,926 shares of the semiconductor manufacturer's stock worth $28,407,000 after buying an additional 6,710 shares during the period. Finally, Kathmere Capital Management LLC acquired a new position in Micron Technology during the first quarter valued at approximately $222,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 1.3%

Shares of NASDAQ:MU traded up $1.50 on Tuesday, hitting $120.11. 24,919,765 shares of the company traded hands, compared to its average volume of 23,294,013. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $135.35. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $108.80 and a 200-day simple moving average of $96.22. The company has a market cap of $134.42 billion, a PE ratio of 21.64 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping 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 the consensus estimate of $8.83 billion. During the same quarter last year, the company earned $0.62 earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's dividend payout ratio is currently 8.29%.

Analyst Ratings Changes

Several analysts have issued reports on MU shares. Robert W. Baird upped their price target on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Barclays raised their price target on shares of Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. UBS Group raised their price target on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Needham & Company LLC raised their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, Raymond James Financial lifted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Insider Activity

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the transaction, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. This represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,446 shares of company stock worth $31,154,717. Company 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.