D.A. Davidson & CO. Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

D.A. Davidson & CO. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,997 shares of the semiconductor manufacturer's stock after purchasing an additional 6,258 shares during the quarter. D.A. Davidson & CO.'s holdings in Micron Technology were worth $5,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mutual Advisors LLC grew its holdings in Micron Technology by 23.2% during the first quarter. Mutual Advisors LLC now owns 10,146 shares of the semiconductor manufacturer's stock worth $809,000 after acquiring an additional 1,913 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Micron Technology by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 95,756 shares of the semiconductor manufacturer's stock worth $8,320,000 after acquiring an additional 660 shares during the period. Buffington Mohr McNeal grew its holdings in Micron Technology by 2.0% during the first quarter. Buffington Mohr McNeal now owns 46,983 shares of the semiconductor manufacturer's stock worth $4,082,000 after acquiring an additional 933 shares during the period. ZWJ Investment Counsel Inc. grew its holdings in Micron Technology by 1.8% during the first quarter. ZWJ Investment Counsel Inc. now owns 426,649 shares of the semiconductor manufacturer's stock worth $37,072,000 after acquiring an additional 7,515 shares during the period. Finally, Resonant Capital Advisors LLC acquired a new position in Micron Technology during the first quarter worth $247,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock worth $31,154,717 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler upped their target price on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Barclays upped their target price on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Morgan Stanley upped their price objective on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Raymond James Financial upped their price objective on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Finally, Susquehanna upped their price objective on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned 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 an average price target of $146.21.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $122.03 on Friday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $137.13. The business has a 50 day moving average price of $103.57 and a two-hundred day moving average price of $94.86. 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 cap of $136.56 billion, a PE ratio of 21.99 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results 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 company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the business posted $0.62 EPS. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is 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.

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