GAMMA Investing LLC Acquires 3,667 Shares of Micron Technology, Inc. (NASDAQ:MU)

GAMMA Investing LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 20.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,561 shares of the semiconductor manufacturer's stock after buying an additional 3,667 shares during the period. GAMMA Investing LLC's holdings in Micron Technology were worth $1,873,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in MU. Wealthcare Advisory Partners LLC lifted its position in shares of Micron Technology by 14.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 20,281 shares of the semiconductor manufacturer's stock valued at $1,762,000 after purchasing an additional 2,516 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of Micron Technology by 44.4% during the first quarter. Bruce G. Allen Investments LLC now owns 871 shares of the semiconductor manufacturer's stock valued at $76,000 after purchasing an additional 268 shares in the last quarter. Tounjian Advisory Partners LLC bought a new position in shares of Micron Technology during the first quarter valued at about $2,033,000. Rheos Capital Works Inc. lifted its position in shares of Micron Technology by 31.0% during the first quarter. Rheos Capital Works Inc. now owns 169,000 shares of the semiconductor manufacturer's stock valued at $14,684,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC lifted its position in shares of Micron Technology by 12.9% during the first quarter. Moss Adams Wealth Advisors LLC now owns 3,609 shares of the semiconductor manufacturer's stock valued at $314,000 after purchasing an additional 413 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Activity 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 completion of the sale, the chief executive officer now directly owns 391,113 shares in the company, 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 SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now owns 24,954 shares of the company's stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,404 shares of company stock valued at $8,509,167. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Susquehanna raised their price target on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research report on Thursday. Piper Sandler raised their price target on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday. Barclays lifted their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday. Royal Bank Of Canada set a $125.00 price objective on shares of Micron Technology in a research report on Wednesday, March 19th. Finally, Citigroup lifted their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.21.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $124.76 on Friday. The company has a 50 day moving average of $98.71 and a 200 day moving average of $94.18. The stock has a market cap of $139.43 billion, a P/E ratio of 22.48 and a beta of 1.28. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $137.13. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. During the same quarter in the previous year, the company earned $0.62 earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be paid 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 0.37%. Micron Technology's dividend payout ratio is currently 11.03%.

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.

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