Cutter & CO Brokerage Inc. Buys New Position in Micron Technology, Inc. (NASDAQ:MU)

Cutter & CO Brokerage Inc. acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,733 shares of the semiconductor manufacturer's stock, valued at approximately $237,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Twin Capital Management Inc. raised its holdings in Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after buying an additional 108 shares during the period. Cim Investment Management Inc. raised its holdings in Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after buying an additional 114 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in Micron Technology by 1.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock valued at $883,000 after buying an additional 119 shares during the period. FineMark National Bank & Trust raised its holdings in Micron Technology by 3.9% during the 4th quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock valued at $306,000 after buying an additional 136 shares during the period. Finally, Carson Advisory Inc. increased its stake in Micron Technology by 1.6% in the fourth quarter. Carson Advisory Inc. now owns 8,592 shares of the semiconductor manufacturer's stock worth $723,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analyst Weigh In

MU has been the subject of several research analyst reports. TD Cowen raised their price objective on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. boosted their price objective on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Raymond James Financial boosted their price objective on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Finally, Cantor Fitzgerald upped their price target on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $146.44.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. This represents a 31.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,446 shares of company stock worth $31,154,717. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Up 1.3%

Shares of NASDAQ MU traded up $1.50 on Tuesday, hitting $120.11. The company had a trading volume of 24,919,765 shares, compared to its average volume of 23,294,013. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $135.35. The business has a 50 day moving average of $108.80 and a two-hundred day moving average of $96.22. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $134.42 billion, a P/E ratio of 21.64 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 EPS for the quarter, beating 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 the consensus estimate of $8.83 billion. During the same quarter in the prior year, the business posted $0.62 earnings per share. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

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.