Easterly Investment Partners LLC Has $3.94 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Easterly Investment Partners LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 972.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,305 shares of the semiconductor manufacturer's stock after acquiring an additional 41,080 shares during the quarter. Easterly Investment Partners LLC's holdings in Micron Technology were worth $3,937,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MU. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology in the 1st quarter valued at about $33,000. Hurley Capital LLC acquired a new stake in Micron Technology in the 4th quarter valued at about $37,000. Roxbury Financial LLC lifted its stake in Micron Technology by 306.1% in the 1st 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. Finally, Harbor Investment Advisory LLC lifted its position in Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during 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 Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares of the company's stock, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares of the company's stock, valued at $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,446 shares of company stock worth $31,154,717 in the last 90 days. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Up 1.0%

Shares of Micron Technology stock traded up $1.13 during trading on Friday, hitting $114.39. 19,315,466 shares of the stock traded hands, compared to its average volume of 23,339,893. The stock has a market cap of $128.02 billion, a P/E ratio of 20.61 and a beta of 1.35. 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, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The company has a fifty day moving average price of $110.82 and a two-hundred day moving average price of $96.72.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 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 during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the company earned $0.62 earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors 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 annualized dividend and a yield of 0.40%. Micron Technology's payout ratio is currently 8.29%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. TD Cowen boosted their target price on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Cantor Fitzgerald increased their target price on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Micron Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $150.00 target price for the company. Finally, Citigroup increased their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.44.

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.