Micron Technology, Inc. (NASDAQ:MU) Holdings Decreased by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,843 shares of the semiconductor manufacturer's stock after selling 2,741 shares during the quarter. Gilliland Jeter Wealth Management LLC's holdings in Micron Technology were worth $334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the fourth quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology during the first quarter worth about $33,000. Curio Wealth LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at about $34,000. Hurley Capital LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at about $37,000. Finally, Roxbury Financial LLC boosted its position in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In other 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 transaction, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock traded up $0.87 during trading on Thursday, hitting $123.11. 15,337,378 shares of the stock were exchanged, compared to its average volume of 23,276,746. 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, Inc. has a 12 month low of $61.54 and a 12 month high of $136.50. The stock's fifty day moving average is $106.25 and its 200 day moving average is $95.45. The stock has a market cap of $137.77 billion, a PE ratio of 22.18 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly 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. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period last year, the company earned $0.62 earnings per share. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MU. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Rosenblatt Securities increased their price target on shares of Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Citigroup upped their target price on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. KeyCorp lifted their price target on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Wells Fargo & Company raised their target price on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.

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.