California First Leasing Corp Has $7.51 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

California First Leasing Corp increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,400 shares of the semiconductor manufacturer's stock after buying an additional 5,100 shares during the quarter. Micron Technology accounts for approximately 3.3% of California First Leasing Corp's investment portfolio, making the stock its 12th largest position. California First Leasing Corp's holdings in Micron Technology were worth $7,507,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after buying an additional 976 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of Micron Technology by 19.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after acquiring an additional 13,985 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Micron Technology by 13.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 18,308 shares of the semiconductor manufacturer's stock valued at $1,541,000 after purchasing an additional 2,198 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Micron Technology by 46.3% in the 4th quarter. Assetmark Inc. now owns 47,959 shares of the semiconductor manufacturer's stock worth $4,036,000 after acquiring an additional 15,167 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Micron Technology by 74.7% in the fourth quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after purchasing an additional 1,734 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 0.2%

Shares of NASDAQ:MU opened at $122.03 on Monday. The firm has a fifty day moving average price of $103.57 and a two-hundred day moving average price of $94.85. The company has a market cap of $136.56 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35. 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 one year low of $61.54 and a one year high of $136.50.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period in the prior year, the company earned $0.62 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president directly owned 148,167 shares of the company's stock, valued at $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director owned 22,762 shares of the company's stock, 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. Over the last quarter, insiders sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MU shares. UBS Group upped their target price on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research report on Wednesday, March 26th. Needham & Company LLC upped their target price on Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Citigroup increased their price target on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, Stifel Nicolaus lifted their price target on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $146.21.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.