Fort Sheridan Advisors LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,678 shares of the semiconductor manufacturer's stock, valued at approximately $320,000.
Several other large investors have also made changes to their positions in MU. Twin Capital Management Inc. boosted its stake in shares of Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after acquiring an additional 108 shares during the period. Cim Investment Management Inc. boosted its stake in shares of Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after acquiring an additional 114 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock valued at $883,000 after purchasing an additional 119 shares during the period. FineMark National Bank & Trust boosted its stake in Micron Technology by 3.9% in the 4th quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock valued at $306,000 after purchasing an additional 136 shares during the period. Finally, Carson Advisory Inc. boosted its stake in Micron Technology by 1.6% in the 4th quarter. Carson Advisory Inc. now owns 8,592 shares of the semiconductor manufacturer's stock valued at $723,000 after purchasing an additional 139 shares during the period. Institutional investors own 80.84% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on MU shares. The Goldman Sachs Group started coverage on Micron Technology in a research note on Thursday. They issued a "neutral" rating and a $130.00 price target for the company. Cantor Fitzgerald boosted their price target on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Robert W. Baird boosted their price target on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. Wells Fargo & Company upped their target price on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Stifel Nicolaus upped their target price on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.44.
Read Our Latest Report on MU
Insider Activity at Micron Technology
In other news, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction that occurred 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 sale, 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 document filed with the SEC, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were 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 in the company, valued at $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock worth $31,154,717 over the last 90 days. 0.30% of the stock is owned by insiders.
Micron Technology Stock Up 1.2%
Shares of Micron Technology stock traded up $1.42 on Friday, hitting $124.53. The company had a trading volume of 15,803,821 shares, compared to its average volume of 23,251,935. The stock has a market capitalization of $139.36 billion, a price-to-earnings ratio of 22.44 and a beta of 1.35. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $135.35. The stock has a 50 day moving average of $108.03 and a 200-day moving average of $95.97. 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 issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period last year, the business posted $0.62 earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.
Micron Technology Dividend Announcement
The firm 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 is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. Micron Technology's dividend payout ratio is presently 8.29%.
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.
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