Kestra Private Wealth Services LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,975 shares of the semiconductor manufacturer's stock after purchasing an additional 4,259 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Micron Technology were worth $6,601,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of MU. Twin Capital Management Inc. grew its position in Micron Technology by 0.5% during the 4th 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 Micron Technology by 0.5% during the 4th 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 Micron Technology by 1.1% during the 4th 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 Micron Technology by 3.9% during the 4th 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 Micron Technology by 1.6% during the 4th 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. Institutional investors and hedge funds own 80.84% of the company's stock.
Micron Technology Price Performance
Shares of NASDAQ:MU traded up $1.13 during midday trading on Friday, hitting $114.39. The company's stock had a trading volume of 19,315,466 shares, compared to its average volume of 23,336,961. The business's 50 day simple moving average is $111.39 and its 200 day simple moving average is $97.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The company has a market cap of $128.02 billion, a P/E ratio of 20.61 and a beta of 1.35. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the previous year, the firm earned $0.62 EPS. On average, 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. Investors of record on Monday, July 7th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology's payout ratio is 8.29%.
Insider Activity at Micron Technology
In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Raymond James Financial boosted their price objective on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Needham & Company LLC boosted their price objective on Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Cantor Fitzgerald boosted their price objective on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Robert W. Baird upped their price target on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Finally, Mizuho upped their price target on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $146.44.
Check Out Our Latest Research Report on MU
About Micron Technology
(
Free Report)
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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