Insigneo Advisory Services LLC Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Insigneo Advisory Services LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 42.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,793 shares of the semiconductor manufacturer's stock after purchasing an additional 5,280 shares during the period. Insigneo Advisory Services LLC's holdings in Micron Technology were worth $1,546,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. increased its holdings in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after buying an additional 8,780 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after buying an additional 4,264 shares during the period. Landscape Capital Management L.L.C. increased its holdings in shares of Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after buying an additional 28,621 shares during the period. Duquesne Family Office LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $34,412,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock worth $222,779,000 after buying an additional 1,130,680 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In related news, EVP Scott J. Deboer sold 20,000 shares of the company's 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 owns 186,353 shares of the company's stock, valued at approximately $20,498,830. This represents a 9.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the company's 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 of the company's stock, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,904 shares of company stock worth $4,665,124. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MU. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. UBS Group raised their target price on Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. cut their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Barclays cut their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, KGI Securities raised Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $129.00.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $119.84 on Tuesday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The firm has a market cap of $133.93 billion, a P/E ratio of 34.54 and a beta of 1.28. The company has a 50 day moving average of $89.28 and a 200 day moving average of $92.68. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the business earned $0.42 EPS. The firm's revenue for the quarter was up 38.2% on a year-over-year basis. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology's dividend payout ratio is presently 11.03%.

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.

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