GF Fund Management CO. LTD. Grows Position in Micron Technology, Inc. (NASDAQ:MU)

GF Fund Management CO. LTD. increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,051 shares of the semiconductor manufacturer's stock after purchasing an additional 6,915 shares during the period. GF Fund Management CO. LTD.'s holdings in Micron Technology were worth $18,946,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in Micron Technology during the first quarter valued at $33,000. Roxbury Financial LLC boosted its holdings in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares in the last quarter. Curio Wealth LLC bought a new stake in Micron Technology in the fourth quarter worth $34,000. Finally, Hurley Capital LLC bought a new position in shares of Micron Technology during the fourth quarter valued at $37,000. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Rosenblatt Securities boosted their price target on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Morgan Stanley upped their price objective on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Bank of America lifted their price target on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Finally, Needham & Company LLC raised their price target on Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $146.21.

Micron Technology Price Performance

MU opened at $122.03 on Friday. The stock has a market cap of $136.56 billion, a P/E ratio of 21.99 and a beta of 1.35. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $137.13. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $102.72 and a 200 day moving average of $94.77.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the business posted $0.62 EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total value of $291,557.12. Following the completion of the transaction, the director directly owned 22,550 shares in the company, valued at approximately $2,734,864. The trade was a 9.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,446 shares of company stock worth $31,154,717. 0.30% of the stock is owned by corporate insiders.

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.

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