Krilogy Financial LLC Lowers Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Krilogy Financial LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,378 shares of the semiconductor manufacturer's stock after selling 3,077 shares during the period. Krilogy Financial LLC's holdings in Micron Technology were worth $1,944,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MU. Everhart Financial Group Inc. raised its stake in shares of Micron Technology by 24.8% in the first quarter. Everhart Financial Group Inc. now owns 6,682 shares of the semiconductor manufacturer's stock worth $581,000 after purchasing an additional 1,326 shares during the last quarter. Relyea Zuckerberg Hanson LLC bought a new position in Micron Technology in the 1st quarter worth approximately $205,000. Quintet Private Bank Europe S.A. increased its holdings in Micron Technology by 40.6% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 15,450 shares of the semiconductor manufacturer's stock valued at $1,342,000 after acquiring an additional 4,465 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of Micron Technology by 0.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 38,269 shares of the semiconductor manufacturer's stock worth $3,325,000 after buying an additional 267 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA boosted its position in shares of Micron Technology by 20.1% during the 1st quarter. Compagnie Lombard Odier SCmA now owns 13,736 shares of the semiconductor manufacturer's stock valued at $1,194,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 3,938 shares of Micron Technology stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $110.88, for a total transaction of $436,645.44. Following the sale, the chief executive officer now directly owns 387,175 shares in the company, valued at approximately $42,929,964. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,904 shares of company stock valued at $4,665,124. Corporate insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of Micron Technology stock traded down $0.58 on Friday, reaching $115.60. The company's stock had a trading volume of 17,402,839 shares, compared to its average volume of 23,689,160. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $129.19 billion, a P/E ratio of 33.31 and a beta of 1.28. The stock has a 50-day moving average price of $88.20 and a 200-day moving average price of $92.60. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue was up 38.2% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MU shares. UBS Group increased their price target on Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, June 5th. China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Mizuho lifted their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Finally, Wedbush reissued an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $129.00.

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.