CHURCHILL MANAGEMENT Corp Grows Position in Micron Technology, Inc. (NASDAQ:MU)

CHURCHILL MANAGEMENT Corp increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,219 shares of the semiconductor manufacturer's stock after acquiring an additional 5,886 shares during the period. CHURCHILL MANAGEMENT Corp's holdings in Micron Technology were worth $10,446,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MU. Westside Investment Management Inc. raised its position in Micron Technology by 12.5% in the 1st quarter. Westside Investment Management Inc. now owns 16,062 shares of the semiconductor manufacturer's stock valued at $1,405,000 after buying an additional 1,789 shares during the last quarter. Nicholson Meyer Capital Management Inc. bought a new stake in shares of Micron Technology in the 1st quarter worth $224,000. Jacobsen Capital Management purchased a new stake in shares of Micron Technology in the first quarter valued at about $204,000. New York State Teachers Retirement System lifted its position in shares of Micron Technology by 1.8% during the first quarter. New York State Teachers Retirement System now owns 935,644 shares of the semiconductor manufacturer's stock valued at $81,298,000 after purchasing an additional 16,971 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Micron Technology by 1.4% during the first quarter. Amalgamated Bank now owns 215,184 shares of the semiconductor manufacturer's stock valued at $18,697,000 after purchasing an additional 3,006 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MU shares. Raymond James Financial upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Rosenblatt Securities increased their price target on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Bank of America lifted their price target on Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Robert W. Baird upped their price objective on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Stifel Nicolaus raised their target price on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $146.21.

Micron Technology Stock Performance

Shares of MU stock traded down $2.36 during trading hours on Tuesday, reaching $120.89. The company had a trading volume of 24,793,999 shares, compared to its average volume of 23,311,702. The firm has a market cap of $135.29 billion, a PE ratio of 21.78 and a beta of 1.28. The business has a fifty day moving average price of $99.84 and a 200-day moving average price of $94.30. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $137.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations 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 firm earned $0.62 EPS. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal 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 $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio is currently 11.03%.

Insiders Place Their Bets

In other news, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the sale, the executive vice president directly owned 166,353 shares of the company's stock, valued at $20,812,423.83. This represents a 10.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director directly owned 24,954 shares of the company's stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,404 shares of company stock worth $8,509,167. Company insiders own 0.30% of the company's stock.

Micron Technology 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.