Fiduciary Financial Group LLC Acquires New Position in Micron Technology, Inc. (NASDAQ:MU)

Fiduciary Financial Group LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,915 shares of the semiconductor manufacturer's stock, valued at approximately $253,000.

Other hedge funds have also made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology in the fourth quarter worth approximately $26,000. Beacon Capital Management LLC boosted its position in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth about $33,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $34,000. Finally, Curio Wealth LLC acquired a new position in Micron Technology in the 4th quarter valued at $34,000. 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, CEO Sanjay Mehrotra sold 3,562 shares of Micron Technology stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.46, for a total transaction of $393,458.52. Following the transaction, the chief executive officer now owns 391,113 shares of the company's stock, valued at $43,202,341.98. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now owns 186,353 shares in the company, valued at $20,498,830. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,904 shares of company stock valued at $4,665,124. 0.30% of the stock is currently owned by company insiders.

Micron Technology Trading Down 0.5%

Shares of MU traded down $0.55 during mid-day trading on Thursday, reaching $115.48. The company's stock had a trading volume of 7,911,691 shares, compared to its average volume of 23,624,094. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The company's fifty day moving average price is $86.24 and its two-hundred day moving average price is $92.43. The stock has a market cap of $129.06 billion, a PE ratio of 33.28 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. On average, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group boosted their price target on Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Wedbush reiterated an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research report on Wednesday, March 19th. China Renaissance cut 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. Finally, Morgan Stanley lowered their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Micron Technology Company 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.