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

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

A number of other institutional investors and hedge funds have also recently made changes to their positions in MU. Brighton Jones LLC increased its position in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after purchasing an additional 976 shares during the period. Bank Pictet & Cie Europe AG grew its stake in Micron Technology by 19.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after buying an additional 13,985 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Micron Technology by 13.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 18,308 shares of the semiconductor manufacturer's stock valued at $1,541,000 after buying an additional 2,198 shares during the period. Assetmark Inc. raised its position in shares of Micron Technology by 46.3% in the 4th quarter. Assetmark Inc. now owns 47,959 shares of the semiconductor manufacturer's stock valued at $4,036,000 after buying an additional 15,167 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Micron Technology by 74.7% during the 4th quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after acquiring an additional 1,734 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president directly owned 148,167 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the firm'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 transaction of $2,200,000.00. Following the sale, the executive vice president directly owned 186,353 shares of the company's stock, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,446 shares of company stock worth $31,154,717. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MU. JPMorgan Chase & Co. upped their price objective on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Robert W. Baird increased their target price on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. TD Cowen lifted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Bank of America upped their price objective on shares of Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Finally, China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.21.

Micron Technology Stock Performance

Shares of MU stock opened at $122.03 on Monday. The stock has a market capitalization of $136.56 billion, a PE ratio of 21.99 and a beta of 1.35. The business's 50 day simple moving average is $103.57 and its 200 day simple moving average is $94.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $136.50.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data 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 net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the firm posted $0.62 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm 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 dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology's payout ratio is currently 8.29%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.