Bourgeon Capital Management LLC Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Bourgeon Capital Management LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 54.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,971 shares of the semiconductor manufacturer's stock after purchasing an additional 36,459 shares during the period. Micron Technology makes up 1.9% of Bourgeon Capital Management LLC's portfolio, making the stock its 23rd largest position. Bourgeon Capital Management LLC's holdings in Micron Technology were worth $9,034,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MU. Norges Bank bought a new stake in Micron Technology during the 4th quarter valued at $1,470,875,000. Capital World Investors grew its holdings in Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after acquiring an additional 15,993,036 shares during the last quarter. FMR LLC increased its position in shares of Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares during the period. Capital Research Global Investors raised its stake in shares of 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 valued at $1,370,280,000 after acquiring an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors raised its stake in shares of Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after acquiring an additional 4,375,232 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ MU traded up $1.00 during midday trading on Wednesday, reaching $103.25. The stock had a trading volume of 14,578,064 shares, compared to its average volume of 23,498,544. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The stock has a 50-day moving average of $82.89 and a 200-day moving average of $91.96. The company has a market capitalization of $115.39 billion, a price-to-earnings ratio of 29.76 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period last year, the firm earned $0.42 earnings per share. The business's quarterly revenue was up 38.2% on a year-over-year basis. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a report on Wednesday, March 26th. Rosenblatt Securities reduced their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.48.

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.