Investment Partners LTD. Acquires Shares of 3,072 Micron Technology, Inc. (NASDAQ:MU)

Investment Partners LTD. acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,072 shares of the semiconductor manufacturer's stock, valued at approximately $267,000.

A number of other large investors also recently modified their holdings of the company. Twin Capital Management Inc. grew its position in shares of Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after acquiring an additional 108 shares during the last quarter. Cim Investment Management Inc. grew its position in shares of Micron Technology by 0.5% during the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after acquiring an additional 114 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Micron Technology by 1.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock worth $883,000 after acquiring an additional 119 shares during the last quarter. FineMark National Bank & Trust grew its position in shares of Micron Technology by 3.9% during the fourth quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock worth $306,000 after acquiring an additional 136 shares during the last quarter. Finally, Carson Advisory Inc. grew its position in shares of Micron Technology by 1.6% during the fourth quarter. Carson Advisory Inc. now owns 8,592 shares of the semiconductor manufacturer's stock worth $723,000 after acquiring an additional 139 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares in the company, valued at $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction on 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 owned 22,762 shares in the company, valued at $2,848,664.30. This represents a 23.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,446 shares of company stock valued at $31,154,717 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 1.9%

NASDAQ:MU opened at $119.92 on Tuesday. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $136.50. The firm has a market cap of $134.21 billion, a price-to-earnings ratio of 21.61 and a beta of 1.35. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company's 50 day moving average is $104.39 and its 200-day moving average is $95.06.

Micron Technology (NASDAQ:MU - Get Free Report) last released 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. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the firm posted $0.62 earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be paid a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology's payout ratio is 8.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Citigroup increased their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Barclays increased their target price on shares of Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. KeyCorp raised their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research report on Wednesday, March 26th. One 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.com, the company presently has an average rating of "Moderate Buy" and an average target price of $146.21.

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.

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.