CWC Advisors LLC. Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

CWC Advisors LLC. bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,618 shares of the semiconductor manufacturer's stock, valued at approximately $314,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the first quarter worth about $33,000. Roxbury Financial LLC grew its stake in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the last quarter. Curio Wealth LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth about $34,000. Finally, Hurley Capital LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of MU traded down $1.24 during trading hours on Friday, hitting $124.76. 36,813,002 shares of the stock were exchanged, compared to its average volume of 23,307,672. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $137.13. The company has a market cap of $139.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28. The stock's 50-day moving average price is $98.71 and its two-hundred day moving average price is $94.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. During the same period in the prior year, the business earned $0.62 EPS. Research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current 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 paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.37%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is 11.03%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the sale, the executive vice president now directly owns 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,404 shares of company stock valued at $8,509,167. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent research reports. Barclays upped their target price on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday. Wedbush upped their target price on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday. Robert W. Baird upped their target price on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday. Mizuho upped their target price on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Finally, Susquehanna upped their target price on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research report on Thursday. 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $146.21.

About Micron Technology

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.