Deroy & Devereaux Private Investment Counsel Inc. Sells 2,129 Shares of Micron Technology, Inc. (NASDAQ:MU)

Deroy & Devereaux Private Investment Counsel Inc. reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,877 shares of the semiconductor manufacturer's stock after selling 2,129 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in Micron Technology were worth $20,930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted 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 acquiring an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position 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 valued at $7,214,000 after buying an additional 13,985 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Micron Technology by 85.2% during the fourth quarter. Jones Financial Companies Lllp now owns 34,794 shares of the semiconductor manufacturer's stock valued at $2,928,000 after buying an additional 16,008 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Micron Technology by 13.6% during the fourth 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 in the last quarter. Finally, Keybank National Association OH lifted its position in Micron Technology by 7.3% during the fourth quarter. Keybank National Association OH now owns 18,316 shares of the semiconductor manufacturer's stock valued at $1,541,000 after buying an additional 1,243 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. KeyCorp boosted their target price on shares of Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Raymond James Financial boosted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Stifel Nicolaus boosted their target price on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Bank of America boosted their target price 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and an average target price of $146.21.

Insiders Place Their Bets

In related news, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the transaction, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. 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 firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the transaction, the director directly owned 22,762 shares of the company's stock, 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. Insiders have sold a total of 254,446 shares of company stock valued at $31,154,717 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

MU stock traded up $0.29 during midday trading on Friday, hitting $122.03. 13,247,931 shares of the company traded hands, compared to its average volume of 23,335,060. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $137.13. 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 business has a 50 day simple moving average of $103.57 and a 200-day simple moving average of $94.86. The stock has a market capitalization of $136.56 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter last year, the company posted $0.62 earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be paid 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 payout ratio is 8.29%.

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.