Compound Global Advisors LLC Invests $348,000 in Micron Technology, Inc. (NASDAQ:MU)

Compound Global Advisors LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,000 shares of the semiconductor manufacturer's stock, valued at approximately $348,000. Micron Technology comprises 2.0% of Compound Global Advisors LLC's investment portfolio, making the stock its 20th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology during the first quarter worth $33,000. Curio Wealth LLC purchased a new position in Micron Technology during the 4th quarter valued at approximately $34,000. Hurley Capital LLC bought a new stake in shares of Micron Technology in the 4th quarter worth about $37,000. Finally, Roxbury Financial LLC raised its position in Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the period. Institutional investors own 80.84% of the company's stock.

Insider Transactions at Micron Technology

In other news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. This represents a 22.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president directly owned 148,167 shares in the company, valued at $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,042 shares of company stock valued at $30,863,160. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of MU traded up $0.74 during trading hours on Thursday, hitting $122.48. The stock had a trading volume of 9,474,219 shares, compared to its average volume of 23,287,078. The firm has a 50-day moving average price of $101.83 and a 200 day moving average price of $94.67. 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, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $137.13. The firm has a market capitalization of $137.07 billion, a price-to-earnings ratio of 22.10 and a beta of 1.35.

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

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology's dividend payout ratio is presently 11.03%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MU. Wedbush raised their price target on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. China Renaissance cut 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. Morgan Stanley increased their price target on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Needham & Company LLC raised their price objective on Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Citigroup upped their target price on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $146.21.

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.