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Ground Swell Capital LLC Invests $200,000 in Micron Technology, Inc. (NASDAQ:MU)

Micron Technology logo with Computer and Technology background

Ground Swell Capital LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,307 shares of the semiconductor manufacturer's stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC raised its position in Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Micron Technology by 19.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after purchasing an additional 13,985 shares in the last quarter. Townsquare Capital LLC raised its position in Micron Technology by 12.9% during the fourth quarter. Townsquare Capital LLC now owns 23,494 shares of the semiconductor manufacturer's stock valued at $1,977,000 after purchasing an additional 2,683 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $479,000. Finally, Advisors Capital Management LLC grew its stake in shares of Micron Technology by 21.0% during the fourth quarter. Advisors Capital Management LLC now owns 3,456 shares of the semiconductor manufacturer's stock valued at $291,000 after buying an additional 599 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the topic of a number of recent research reports. Cantor Fitzgerald raised their price objective on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Wedbush raised their price objective on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Wells Fargo & Company raised their price objective on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Stifel Nicolaus raised their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, Raymond James Financial raised their price objective on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $147.24.

View Our Latest Stock Analysis on Micron Technology

Micron Technology Price Performance

Shares of MU opened at $124.27 on Thursday. The firm has a market cap of $139.07 billion, a PE ratio of 22.39 and a beta of 1.37. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $117.39 and a two-hundred day simple moving average of $98.60. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology's payout ratio is currently 8.29%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction on Friday, June 27th. The shares were 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 in the company, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the sale, the director directly owned 22,550 shares of the company's stock, valued at approximately $2,734,864. The trade was a 9.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 286,042 shares of company stock worth $34,679,277. 0.30% of the stock is owned by corporate insiders.

Micron Technology Profile

(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.

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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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