Harel Insurance Investments & Financial Services Ltd. Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,744 shares of the semiconductor manufacturer's stock, valued at approximately $1,195,000.

Several other hedge funds have also bought and sold shares of MU. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology in the first quarter worth approximately $33,000. Roxbury Financial LLC lifted its stake in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares in the last quarter. Curio Wealth LLC bought a new position in shares of Micron Technology in the fourth quarter worth approximately $34,000. Finally, Hurley Capital LLC bought a new position in shares of Micron Technology in the fourth quarter worth approximately $37,000. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Stifel Nicolaus lifted their target price on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. increased their price target on Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Barclays increased their price target on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, Rosenblatt Securities increased their price target on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $146.21.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $4.50 during midday trading on Tuesday, hitting $124.42. The company had a trading volume of 26,184,598 shares, compared to its average volume of 23,314,184. 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 company has a market cap of $139.24 billion, a price-to-earnings ratio of 22.42 and a beta of 1.35. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $136.50. The company has a fifty day moving average of $105.34 and a two-hundred day moving average of $95.26.

Micron Technology (NASDAQ:MU - Get Free Report) last posted 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 business had revenue of $9.30 billion for the quarter, compared to analysts' expectations 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 firm earned $0.62 earnings per share. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend 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 is presently 8.29%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director directly owned 22,762 shares of the company's stock, valued at $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is currently owned by corporate 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.