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GFG Capital LLC Increases Position in Micron Technology, Inc. (NASDAQ:MU)

Micron Technology logo with Computer and Technology background

GFG Capital LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,984 shares of the semiconductor manufacturer's stock after purchasing an additional 5,238 shares during the period. GFG Capital LLC's holdings in Micron Technology were worth $2,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after buying an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Micron Technology by 19.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after buying an additional 13,985 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Micron Technology by 74.7% during the 4th quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after buying an additional 1,734 shares in the last quarter. Personal CFO Solutions LLC purchased a new stake in Micron Technology during the 4th quarter worth approximately $235,000. Finally, Moran Wealth Management LLC increased its stake in Micron Technology by 258.9% during the 4th quarter. Moran Wealth Management LLC now owns 46,696 shares of the semiconductor manufacturer's stock worth $3,930,000 after buying an additional 33,685 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology 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 sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,446 shares of company stock worth $31,154,717. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on MU. Barclays boosted their target price on Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Susquehanna upped their price objective on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Citigroup upped their price objective on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, UBS Group increased their target price on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, June 26th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.21.

View Our Latest Stock Analysis on Micron Technology

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $124.42 on Wednesday. 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 company has a market cap of $139.24 billion, a P/E ratio of 22.42 and a beta of 1.35. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $136.50. The company has a 50-day moving average price of $105.34 and a 200 day moving average price of $95.26.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the firm earned $0.62 EPS. Research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. Micron Technology's dividend payout ratio is currently 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.

See Also

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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