Lbp Am Sa Sells 47,667 Shares of Micron Technology, Inc. (NASDAQ:MU)

LBP AM SA trimmed its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 44.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,220 shares of the semiconductor manufacturer's stock after selling 47,667 shares during the quarter. LBP AM SA's holdings in Micron Technology were worth $5,146,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the first quarter worth $33,000. Curio Wealth LLC acquired a new stake in Micron Technology in the fourth quarter valued at $34,000. Hurley Capital LLC acquired a new stake in Micron Technology in the fourth quarter valued at $37,000. Finally, Roxbury Financial LLC raised its holdings in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on MU shares. Bank of America upped their price target on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Rosenblatt Securities boosted their target price on shares of Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Raymond James Financial boosted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Robert W. Baird boosted their target price on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.44.

Insider Activity

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the sale, the director owned 22,550 shares in the company, valued at $2,734,864. This represents a 9.63% decrease in their position. 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 owned by insiders.

Micron Technology Stock Up 1.2%

Shares of MU traded up $1.42 during trading hours on Friday, reaching $124.53. The company's stock had a trading volume of 15,803,821 shares, compared to its average volume of 23,251,935. The firm has a market cap of $139.36 billion, a price-to-earnings ratio of 22.44 and a beta of 1.35. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $135.35. 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 50 day moving average of $108.03 and a two-hundred day moving average of $96.01.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. Micron Technology's dividend payout ratio is currently 8.29%.

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.