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

GFG Capital LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 24.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,984 shares of the semiconductor manufacturer's stock after acquiring 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 filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC bought a new stake in Micron Technology in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new stake in Micron Technology in the first quarter valued at about $33,000. Curio Wealth LLC bought a new stake in Micron Technology in the fourth quarter valued at about $34,000. Hurley Capital LLC bought a new stake in Micron Technology in the fourth quarter valued at about $37,000. Finally, Roxbury Financial LLC increased 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 valued at $37,000 after buying an additional 300 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MU has been the subject of several recent research reports. Needham & Company LLC upped their target price on Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a report on Wednesday, March 26th. KeyCorp upped their target price on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Morgan Stanley upped their target price on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Finally, Susquehanna upped their target price on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have assigned 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, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $146.44.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 transaction, the executive vice president owned 148,167 shares of the company's stock, valued at $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $1.42 during midday trading on Friday, hitting $124.53. The company's stock had a trading volume of 15,803,821 shares, compared to its average volume of 23,250,378. The stock has a market capitalization of $139.36 billion, a price-to-earnings ratio of 22.44 and a beta of 1.35. The stock's 50 day simple moving average is $107.16 and its 200 day simple moving average is $95.68. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $136.43. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (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 firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

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.