Clarius Group LLC Acquires 5,220 Shares of Micron Technology, Inc. (NASDAQ:MU)

Clarius Group LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 57.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,238 shares of the semiconductor manufacturer's stock after acquiring an additional 5,220 shares during the period. Clarius Group LLC's holdings in Micron Technology were worth $1,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after acquiring an additional 888,087 shares during the period. FMR LLC boosted its position in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Capital World Investors grew its stake in shares of Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC increased its position in shares of Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after purchasing an additional 726,282 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $1,470,875,000. Institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,904 shares of company stock worth $4,665,124 in the last three months. Corporate insiders own 0.30% of the company's stock.

Micron Technology Trading Up 0.4%

Shares of NASDAQ MU opened at $120.34 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. The company has a market cap of $134.49 billion, a price-to-earnings ratio of 28.86 and a beta of 1.28. The business's 50 day moving average price is $90.13 and its 200-day moving average price is $92.87.

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, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. The firm had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The business's revenue for the quarter was up 38.2% on a year-over-year basis. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Analyst Ratings Changes

A number of brokerages recently commented on MU. UBS Group raised their target price on Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Rosenblatt Securities lowered their price objective on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Morgan Stanley cut their price objective on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company restated 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, four have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $129.00.

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.

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