E Fund Management Co. Ltd. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 63.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,355 shares of the semiconductor manufacturer's stock after purchasing an additional 22,977 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Micron Technology were worth $5,157,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in MU. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology in the first quarter valued at approximately $33,000. AllSquare Wealth Management LLC raised its holdings in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Micron Technology in the first quarter valued at approximately $36,000. Finally, Roxbury Financial LLC increased its stake in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.
Micron Technology Price Performance
MU stock traded up $1.02 during trading on Thursday, hitting $125.29. The stock had a trading volume of 12,199,879 shares, compared to its average volume of 21,545,436. The company's 50 day moving average price is $117.77 and its two-hundred day moving average price is $98.83. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The stock has a market cap of $140.21 billion, a price-to-earnings ratio of 22.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.
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 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 analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the prior year, the firm posted $0.62 EPS. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were issued a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.
Insider Transactions at Micron Technology
In related news, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the transaction, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 286,042 shares of company stock valued at $34,679,277 in the last three months. 0.30% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts have commented on MU shares. Wedbush increased their price target on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Mizuho raised their target price on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Stifel Nicolaus raised 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, Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $147.24.
Get Our Latest Stock Report on Micron Technology
About Micron Technology
(
Free Report)
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.
See Also
Before you consider Micron Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Micron Technology wasn't on the list.
While Micron Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access