Generali Powszechne Towarzystwo Emerytalne Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Generali Powszechne Towarzystwo Emerytalne increased its stake in Micron Technology by 55.6%, owning 140,000 shares worth approximately $12.17 million, making it the fund's 12th largest holding.
• Micron Technology reported a quarterly earnings per share (EPS) of $1.91, exceeding analysts' expectations of $1.57, and showed a revenue of $9.30 billion for the quarter.
• Several analysts have raised their price targets on Micron Technology, with Barclays suggesting a new target of $140.00 and Wells Fargo increasing theirs to $170.00, reflecting strong bullish sentiment.

Generali Powszechne Towarzystwo Emerytalne raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 55.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 140,000 shares of the semiconductor manufacturer's stock after acquiring an additional 50,000 shares during the period. Micron Technology makes up 3.8% of Generali Powszechne Towarzystwo Emerytalne's investment portfolio, making the stock its 12th biggest holding. Generali Powszechne Towarzystwo Emerytalne's holdings in Micron Technology were worth $12,165,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its holdings in Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after acquiring an additional 4,264 shares during the period. Landscape Capital Management L.L.C. grew its stake in shares of Micron Technology by 167.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after purchasing an additional 28,621 shares during the period. Duquesne Family Office LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at about $34,412,000. Janus Henderson Group PLC lifted its stake in shares of Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after purchasing an additional 1,130,680 shares during the period. Finally, Mission Wealth Management LP lifted its stake in shares of Micron Technology by 195.2% in the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock valued at $1,360,000 after purchasing an additional 10,348 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU opened at $104.88 on Friday. The firm has a market cap of $117.37 billion, a price-to-earnings ratio of 18.90 and a beta of 1.37. The company's fifty day moving average is $114.36 and its 200-day moving average is $97.99. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $129.85.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the company posted $0.62 earnings per share. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, July 7th. 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 business'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 transaction of $3,716,880.00. Following the completion of the transaction, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the transaction, the director directly owned 22,550 shares of the company's stock, valued at $2,734,864. This trade represents a 9.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 286,042 shares of company stock worth $34,679,277. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays raised their price target on Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Stifel Nicolaus lifted their price objective on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Wells Fargo & Company boosted their target price on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Mizuho upped their target price on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a "buy" rating and a $150.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.

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