Krane Funds Advisors LLC Purchases New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Krane Funds Advisors LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,726 shares of the semiconductor manufacturer's stock, valued at approximately $237,000.

Other institutional investors have also made changes to their positions in the company. Compound Global Advisors LLC purchased a new position in Micron Technology in the first quarter valued at about $348,000. Pictet North America Advisors SA lifted its holdings in shares of Micron Technology by 4.2% during the 1st quarter. Pictet North America Advisors SA now owns 60,007 shares of the semiconductor manufacturer's stock valued at $5,214,000 after buying an additional 2,416 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Micron Technology by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 140,804 shares of the semiconductor manufacturer's stock valued at $12,234,000 after buying an additional 7,478 shares in the last quarter. Clear Creek Financial Management LLC increased its holdings in Micron Technology by 3.9% in the first quarter. Clear Creek Financial Management LLC now owns 30,287 shares of the semiconductor manufacturer's stock worth $2,632,000 after buying an additional 1,125 shares during the last quarter. Finally, RKL Wealth Management LLC increased its holdings in Micron Technology by 2.3% in the first quarter. RKL Wealth Management LLC now owns 25,366 shares of the semiconductor manufacturer's stock worth $2,204,000 after buying an additional 562 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of MU traded up $0.37 during trading hours on Thursday, reaching $122.11. 11,395,586 shares of the company traded hands, compared to its average volume of 23,481,568. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $137.13. The stock has a market cap of $136.65 billion, a P/E ratio of 22.00 and a beta of 1.35. The stock's fifty day moving average is $101.83 and its 200 day moving average is $94.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

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

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

MU has been the topic of several analyst reports. TD Cowen increased their price target on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Mizuho upped their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Citigroup raised their target price on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Morgan Stanley boosted their price target on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Finally, UBS Group increased their price objective on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.21.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president owned 148,167 shares in the company, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 owned 275,067 shares in the company, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,042 shares of company stock worth $30,863,160 over the last 90 days. Company insiders own 0.30% of the company's stock.

Micron Technology 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.