Larson Financial Group LLC Purchases 2,907 Shares of Micron Technology, Inc. (NASDAQ:MU)

Larson Financial Group LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 273.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,970 shares of the semiconductor manufacturer's stock after acquiring an additional 2,907 shares during the period. Larson Financial Group LLC's holdings in Micron Technology were worth $345,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC lifted its position in shares of Micron Technology by 20.4% during the 1st quarter. Wealthfront Advisers LLC now owns 108,405 shares of the semiconductor manufacturer's stock worth $9,419,000 after buying an additional 18,389 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of Micron Technology by 2.1% during the 1st quarter. SBI Securities Co. Ltd. now owns 53,912 shares of the semiconductor manufacturer's stock worth $4,684,000 after buying an additional 1,109 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Micron Technology by 13.3% during the 1st quarter. Apollon Wealth Management LLC now owns 28,011 shares of the semiconductor manufacturer's stock worth $2,434,000 after buying an additional 3,295 shares during the period. Sigma Planning Corp increased its holdings in Micron Technology by 3.0% during the 1st quarter. Sigma Planning Corp now owns 20,271 shares of the semiconductor manufacturer's stock valued at $1,761,000 after purchasing an additional 591 shares in the last quarter. Finally, Catalyst Financial Partners LLC increased its holdings in Micron Technology by 2.9% during the 1st quarter. Catalyst Financial Partners LLC now owns 5,485 shares of the semiconductor manufacturer's stock valued at $477,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the completion of the sale, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock worth $31,154,717 in the last 90 days. Company insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Micron Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $130.00 price objective for the company. Bank of America lifted their price objective on Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Citigroup lifted their price objective on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Stifel Nicolaus lifted their target price on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, Susquehanna lifted their target price on Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.

Micron Technology Trading Up 1.0%

MU stock traded up $1.13 during trading on Friday, reaching $114.39. The company had a trading volume of 19,315,466 shares, compared to its average volume of 23,336,961. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. The company has a market cap of $128.02 billion, a P/E ratio of 20.61 and a beta of 1.35. The business has a 50 day moving average of $111.39 and a 200 day moving average of $97.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89.

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 for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology's payout ratio is 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.