Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 590,082 shares of the semiconductor manufacturer's stock after purchasing an additional 2,616 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Micron Technology worth $51,272,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MU. Consolidated Portfolio Review Corp lifted its stake in Micron Technology by 30.0% in the first quarter. Consolidated Portfolio Review Corp now owns 3,311 shares of the semiconductor manufacturer's stock worth $288,000 after purchasing an additional 764 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in Micron Technology by 513.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 552 shares of the semiconductor manufacturer's stock valued at $48,000 after acquiring an additional 462 shares during the last quarter. Legacy Advisors LLC increased its stake in Micron Technology by 4.4% in the first quarter. Legacy Advisors LLC now owns 6,000 shares of the semiconductor manufacturer's stock worth $522,000 after purchasing an additional 255 shares during the period. Asset Management One Co. Ltd. increased its stake in Micron Technology by 5.3% in the first quarter. Asset Management One Co. Ltd. now owns 456,376 shares of the semiconductor manufacturer's stock worth $39,655,000 after purchasing an additional 23,150 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Micron Technology by 78.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 16,759 shares of the semiconductor manufacturer's stock worth $1,456,000 after purchasing an additional 7,352 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Down 1.0%

NASDAQ:MU traded down $1.25 during mid-day trading on Thursday, hitting $126.00. 62,077,374 shares of the company's stock traded hands, compared to its average volume of 23,619,495. The company has a fifty day moving average of $96.45 and a 200 day moving average of $93.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $144.07. The company has a market capitalization of $140.81 billion, a P/E ratio of 30.22 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued 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. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. During the same quarter last year, the business posted $0.62 EPS. On average, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday. Robert W. Baird boosted their price target on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Citigroup raised their price objective on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday. Susquehanna upped their target price on Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.67.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 5,210 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total value of $632,233.50. Following the completion of the sale, the chief executive officer now owns 379,675 shares in the company, valued at $46,073,561.25. The trade was a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,404 shares of company stock worth $4,130,167 over the last quarter. Insiders own 0.30% of the company's stock.

Micron Technology Company Profile

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.