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

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

Several other institutional investors and hedge funds have also modified their holdings of MU. Vanguard Group Inc. increased its holdings in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after acquiring an additional 888,087 shares during the last quarter. FMR LLC increased its stake in shares of Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares in the last quarter. Capital World Investors grew its position in Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC boosted its holdings in Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after acquiring an additional 726,282 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Micron Technology in the 4th quarter worth about $1,470,875,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president directly owned 148,167 shares of the company's stock, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president directly owned 186,353 shares of the company's stock, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,446 shares of company stock worth $31,154,717. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus upped their price target on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Needham & Company LLC upped their price target on Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Mizuho upped their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Morgan Stanley upped their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Finally, Rosenblatt Securities upped their price objective on shares of Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Micron Technology Trading Down 1.8%

Micron Technology stock traded down $2.18 during trading on Wednesday, reaching $122.24. 20,428,033 shares of the company were exchanged, compared to its average volume of 23,302,744. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $136.50. The company has a market capitalization of $136.80 billion, a P/E ratio of 22.03 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The stock's 50 day simple moving average is $105.34 and its two-hundred day simple moving average is $95.26.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its 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. 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 quarter in the previous year, the business earned $0.62 earnings per share. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders 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 0.38%. Micron Technology's dividend payout ratio is currently 8.29%.

About Micron Technology

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.