Micron Technology, Inc. (NASDAQ:MU) Shares Sold by KBC Group NV

KBC Group NV decreased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 395,364 shares of the semiconductor manufacturer's stock after selling 5,103 shares during the quarter. KBC Group NV's holdings in Micron Technology were worth $34,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MU. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after purchasing an additional 108 shares during the last quarter. Twin Capital Management Inc. increased its stake in shares of Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after buying an additional 108 shares during the period. Cim Investment Management Inc. increased its stake in shares of Micron Technology by 0.5% in the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after buying an additional 114 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Micron Technology by 1.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock worth $883,000 after buying an additional 119 shares during the period. Finally, FineMark National Bank & Trust increased its position in Micron Technology by 3.9% during the 4th quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock valued at $306,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Down 1.9%

Shares of MU traded down $2.36 during mid-day trading on Tuesday, hitting $120.89. 24,793,999 shares of the company traded hands, compared to its average volume of 23,306,039. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $137.13. 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 has a market capitalization of $135.29 billion, a PE ratio of 21.78 and a beta of 1.34. The business has a 50 day moving average of $99.84 and a 200 day moving average of $94.30.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 5,210 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total value of $632,233.50. Following the sale, the chief executive officer owned 379,675 shares in the company, valued at $46,073,561.25. This represents a 1.35% decrease in their ownership of the stock. The sale 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, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the sale, the executive vice president owned 148,167 shares in the company, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,042 shares of company stock valued at $21,010,360 over the last quarter. Company insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MU. Barclays boosted their price objective 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. Needham & Company LLC increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. TD Cowen upped their target price on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Piper Sandler increased their price objective on shares of Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Robert W. Baird increased their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.