Global Assets Advisory LLC Makes New $423,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

Global Assets Advisory LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,864 shares of the semiconductor manufacturer's stock, valued at approximately $423,000.

Other institutional investors also recently bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology in the 1st quarter worth about $33,000. Curio Wealth LLC acquired a new stake in Micron Technology in the 4th quarter worth about $34,000. Hurley Capital LLC acquired a new stake in Micron Technology in the 4th quarter worth about $37,000. Finally, Roxbury Financial LLC boosted its holdings in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after purchasing an additional 300 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on MU. TD Cowen boosted their target price on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday. KeyCorp boosted their target price on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday. Citigroup boosted their target price on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday. Stifel Nicolaus boosted their target price on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Royal Bank Of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $146.21.

Micron Technology Trading Down 1.0%

NASDAQ:MU traded down $1.24 during trading hours on Friday, reaching $124.76. 36,813,002 shares of the stock were exchanged, compared to its average volume of 23,307,672. 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 50-day moving average of $98.71 and a two-hundred day moving average of $94.15. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $137.13. The company has a market capitalization of $139.62 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28.

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

Micron Technology Announces Dividend

The business 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. 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 currently 11.03%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president now owns 148,167 shares of the company's stock, valued at $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares in the company, valued at $20,498,830. This trade represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,404 shares of company stock valued at $8,509,167. 0.30% of the stock is currently owned by company insiders.

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.