Creekmur Asset Management LLC Acquires 6,182 Shares of Micron Technology, Inc. (NASDAQ:MU)

Creekmur Asset Management LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10,845.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,239 shares of the semiconductor manufacturer's stock after acquiring an additional 6,182 shares during the period. Creekmur Asset Management LLC's holdings in Micron Technology were worth $542,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MU. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter worth approximately $33,000. Hurley Capital LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $37,000. Roxbury Financial LLC increased its position in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its position in Micron Technology by 240.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after purchasing an additional 300 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of several recent research reports. Bank of America increased their price objective on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Robert W. Baird increased their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Citigroup raised their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Stifel Nicolaus raised their price target on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Rosenblatt Securities raised their price target on shares of Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, four 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.44.

Micron Technology Trading Up 1.0%

MU traded up $1.13 during trading on Friday, reaching $114.39. The company had a trading volume of 19,315,466 shares, compared to its average volume of 23,336,961. The firm's 50-day simple moving average is $111.39 and its 200 day simple moving average is $97.01. The company has a market cap of $128.02 billion, a price-to-earnings ratio of 20.61 and a beta of 1.35. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. 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 announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period last year, the company posted $0.62 EPS. Equities research analysts anticipate 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 will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is presently 8.29%.

Insider Activity

In related news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president directly owned 186,353 shares in the company, valued at approximately $20,498,830. The trade was a 9.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is currently owned by company insiders.

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.