Kathmere Capital Management LLC Purchases Shares of 2,558 Micron Technology, Inc. (NASDAQ:MU)

Kathmere Capital Management LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,558 shares of the semiconductor manufacturer's stock, valued at approximately $222,000.

Several other hedge funds have also modified their holdings of MU. Brighton Jones LLC lifted its position in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Micron Technology by 19.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after acquiring an additional 13,985 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Micron Technology by 74.7% during the fourth quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock valued at $341,000 after acquiring an additional 1,734 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Micron Technology by 5.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 316,605 shares of the semiconductor manufacturer's stock valued at $26,645,000 after acquiring an additional 15,190 shares in the last quarter. Finally, Intact Investment Management Inc. increased its holdings in shares of Micron Technology by 11.3% during the fourth quarter. Intact Investment Management Inc. now owns 6,300 shares of the semiconductor manufacturer's stock valued at $530,000 after acquiring an additional 640 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MU. TD Cowen upped their price objective on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Wall Street Zen upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Cantor Fitzgerald upped their price objective on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Susquehanna upped their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. Finally, Rosenblatt Securities upped their price objective on shares of Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Insider Activity at Micron Technology

In other news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction on 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 in the company, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the transaction, the director directly owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. This represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Up 1.2%

Shares of MU opened at $124.53 on Monday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $135.35. The company has a market capitalization of $139.36 billion, a PE ratio of 22.44 and a beta of 1.35. The stock has a fifty day simple moving average of $108.03 and a two-hundred day simple moving average of $96.01. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (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 business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the company earned $0.62 EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

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.

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.