Davidson Investment Advisors Has $13.73 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Davidson Investment Advisors increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,057 shares of the semiconductor manufacturer's stock after purchasing an additional 4,727 shares during the quarter. Davidson Investment Advisors' holdings in Micron Technology were worth $13,734,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Sunbeam Capital Management LLC purchased a new position in Micron Technology during the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in Micron Technology during the 1st quarter valued at approximately $33,000. Curio Wealth LLC purchased a new position in Micron Technology during the 4th quarter valued at approximately $34,000. Hurley Capital LLC purchased a new position in Micron Technology during the 4th quarter valued at approximately $37,000. Finally, Roxbury Financial LLC grew its holdings in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Rosenblatt Securities lifted their target price on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Morgan Stanley boosted their price target on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Needham & Company LLC boosted their price target 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, Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.21.

Micron Technology Stock Performance

Shares of NASDAQ MU traded down $2.37 during midday trading on Monday, hitting $119.92. 19,115,103 shares of the company's stock were exchanged, compared to its average volume of 23,291,178. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The stock's 50 day moving average price is $103.57 and its 200-day moving average price is $94.85. The firm has a market cap of $134.20 billion, a P/E ratio of 21.61 and a beta of 1.35. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $136.50.

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

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology's dividend payout ratio is currently 8.29%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction 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 sale, the executive vice president directly owned 148,167 shares of the company's stock, valued at $18,538,655.04. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director directly owned 22,762 shares in the company, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,446 shares of company stock worth $31,154,717. Insiders own 0.30% of the company's stock.

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.