Hennion & Walsh Asset Management Inc. Has $1.13 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 48.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,965 shares of the semiconductor manufacturer's stock after purchasing an additional 4,226 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Micron Technology were worth $1,127,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. AEGON ASSET MANAGEMENT UK Plc raised its stake in Micron Technology by 33.7% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 588,106 shares of the semiconductor manufacturer's stock worth $51,095,000 after buying an additional 148,357 shares during the last quarter. Romano Brothers AND Company acquired a new position in shares of Micron Technology during the first quarter valued at about $497,000. Bourgeon Capital Management LLC raised its holdings in shares of Micron Technology by 54.0% during the first quarter. Bourgeon Capital Management LLC now owns 103,971 shares of the semiconductor manufacturer's stock valued at $9,034,000 after purchasing an additional 36,459 shares during the period. HBW Advisory Services LLC acquired a new position in shares of Micron Technology during the first quarter valued at about $281,000. Finally, Merit Financial Group LLC raised its holdings in shares of Micron Technology by 22.6% during the first quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer's stock valued at $1,692,000 after purchasing an additional 3,593 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MU has been the topic of several research reports. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a report on Wednesday, March 19th. China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research report on Wednesday, March 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Mizuho boosted their target price on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Wedbush reissued an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.20.

Micron Technology Stock Performance

NASDAQ MU opened at $108.56 on Friday. The company's 50 day moving average is $83.97 and its 200-day moving average is $92.17. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market cap of $121.32 billion, a P/E ratio of 31.29 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company's quarterly revenue was up 38.2% compared to the same quarter last year. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

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.

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