HighTower Advisors LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 497,443 shares of the semiconductor manufacturer's stock after purchasing an additional 3,560 shares during the period. HighTower Advisors LLC's holdings in Micron Technology were worth $43,223,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology in the first quarter worth approximately $33,000. Roxbury Financial LLC raised its holdings 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 during the period. AllSquare Wealth Management LLC raised its holdings in shares of Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after buying an additional 200 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Micron Technology in the first quarter worth approximately $36,000. 80.84% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on MU shares. KGI Securities downgraded Micron Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. TD Cowen raised their price objective on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. KeyCorp raised their price objective on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Stifel Nicolaus raised their price objective on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, Raymond James Financial raised their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average target price of $147.24.
Read Our Latest Stock Report on MU
Insider Activity at Micron Technology
In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of Micron Technology 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 completion of the sale, the director owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction dated Monday, June 30th. The stock was 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 of the company's stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 286,042 shares of company stock worth $34,679,277 in the last quarter. 0.30% of the stock is owned by insiders.
Micron Technology Stock Down 2.7%
Micron Technology stock opened at $124.27 on Thursday. 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 stock has a market capitalization of $139.07 billion, a price-to-earnings ratio of 22.39 and a beta of 1.37. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The business has a fifty day moving average price of $117.39 and a 200-day moving average price of $98.60.
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, 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 during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend 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%.
Micron Technology Company Profile
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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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