Joule Financial LLC Raises Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Joule Financial LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 150.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,854 shares of the semiconductor manufacturer's stock after acquiring an additional 8,313 shares during the quarter. Joule Financial LLC's holdings in Micron Technology were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology in the fourth quarter valued at $26,000. Beacon Capital Management LLC lifted its holdings in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at about $33,000. Roxbury Financial LLC grew its stake in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology during the fourth quarter valued at about $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

MU stock opened at $108.56 on Friday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The stock has a market capitalization of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock's fifty day moving average is $83.97 and its two-hundred day moving average is $92.17.

Micron Technology (NASDAQ:MU - Get Free Report) last released 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 business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same quarter last year, the company earned $0.42 EPS. The company's revenue for the quarter was up 38.2% compared to the same quarter last year. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. 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 11.03%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays reduced their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird increased their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Finally, Morgan Stanley decreased their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.20.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares of the company's stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

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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