LHM Inc. lowered its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 9.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 91,341 shares of the semiconductor manufacturer's stock after selling 9,824 shares during the period. Micron Technology accounts for approximately 2.6% of LHM Inc.'s portfolio, making the stock its 7th largest position. LHM Inc.'s holdings in Micron Technology were worth $7,947,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orca Wealth Management LLC grew its stake in shares of Micron Technology by 1.5% in the 1st quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer's stock worth $737,000 after acquiring an additional 129 shares in the last quarter. Sunpointe LLC grew its stake in shares of Micron Technology by 4.0% in the 1st quarter. Sunpointe LLC now owns 3,443 shares of the semiconductor manufacturer's stock worth $300,000 after acquiring an additional 131 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Micron Technology by 2.1% in the 1st quarter. Foundations Investment Advisors LLC now owns 6,561 shares of the semiconductor manufacturer's stock worth $570,000 after acquiring an additional 138 shares in the last quarter. Allen Capital Group LLC grew its stake in shares of Micron Technology by 3.2% in the 1st quarter. Allen Capital Group LLC now owns 4,460 shares of the semiconductor manufacturer's stock worth $388,000 after acquiring an additional 139 shares in the last quarter. Finally, Atlas Capital Advisors Inc. grew its position in Micron Technology by 0.7% during the first quarter. Atlas Capital Advisors Inc. now owns 19,688 shares of the semiconductor manufacturer's stock valued at $1,711,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.
Insider Buying and Selling
In related news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 286,042 shares of company stock valued at $34,679,277 over the last three months. Insiders own 0.30% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. TD Cowen increased their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Raymond James Financial increased their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Rosenblatt Securities increased their price target on shares of Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Robert W. Baird increased their price target on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus target price of $147.24.
Get Our Latest Report on MU
Micron Technology Trading Down 2.7%
Shares of Micron Technology stock traded down $3.48 on Wednesday, hitting $124.27. The stock had a trading volume of 18,405,397 shares, compared to its average volume of 22,154,266. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $129.85. The stock has a market cap of $139.07 billion, a price-to-earnings ratio of 22.39 and a beta of 1.37. The stock's 50-day simple moving average is $117.39 and its two-hundred day simple moving average is $98.60.
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, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, sell-side analysts predict 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 was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.
Micron Technology Company Profile
(
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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