Micron Technology, Inc. (NASDAQ:MU) is DE Burlo Group Inc.'s 6th Largest Position

Key Points

• DE Burlo Group Inc. reduced its stake in Micron Technology by 7.6% during the first quarter, selling 26,965 shares and holding 326,260 shares, which represents about 4.2% of its investment portfolio.
• Micron Technology's recent earnings report showed earnings per share (EPS) of $1.91, exceeding analysts' expectations of $1.57, and revenue of $9.30 billion compared to estimates of $8.83 billion.
• Insider trading included significant sales by EVP Sumit Sadana and CFO Mark J. Murphy, who sold 92,638 and 34,000 shares respectively, indicating a notable decline in their ownership percentages.

DE Burlo Group Inc. decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 326,260 shares of the semiconductor manufacturer's stock after selling 26,965 shares during the quarter. Micron Technology comprises approximately 4.2% of DE Burlo Group Inc.'s investment portfolio, making the stock its 6th biggest position. DE Burlo Group Inc.'s holdings in Micron Technology were worth $28,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. Capital World Investors boosted its holdings in shares of Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after purchasing an additional 726,282 shares in the last quarter. Capital International Investors boosted its holdings in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Micron Technology by 139.7% in the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the transaction, the director owned 22,550 shares of the company's stock, valued at $2,734,864. The trade was a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,446 shares of company stock worth $34,871,597. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MU. Raymond James Financial raised their target price on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Wedbush increased their price target on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Citigroup increased their price target on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Arete Research upgraded Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Finally, Susquehanna increased their price target on Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $146.44.

Micron Technology Price Performance

Shares of MU stock traded up $0.55 on Tuesday, reaching $111.80. The company's stock had a trading volume of 8,066,584 shares, compared to its average volume of 23,256,689. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. The company has a market capitalization of $125.12 billion, a P/E ratio of 20.15 and a beta of 1.35. The stock's 50 day simple moving average is $113.19 and its 200-day simple moving average is $97.62.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (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 earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology's payout ratio is 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.