Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC cut its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,189 shares of the semiconductor manufacturer's stock after selling 11,189 shares during the quarter. Lmcg Investments LLC's holdings in Micron Technology were worth $11,399,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC purchased a new stake in Micron Technology during the 4th quarter valued at approximately $26,000. Beacon Capital Management LLC grew its stake in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $33,000. Activest Wealth Management increased its position in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 350 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 2.1%

Shares of MU traded up $2.27 during midday trading on Friday, hitting $108.56. The company had a trading volume of 20,687,183 shares, compared to its average volume of 23,555,497. The stock has a market cap of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28. The company's 50 day moving average price is $83.57 and its 200 day moving average price is $92.09. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. 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 announced 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 firm had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. On average, equities research 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, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered 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. Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Robert W. Baird lifted their price target on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. UBS Group increased their price objective on shares of Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Mizuho boosted their target price on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.20.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now directly owns 24,954 shares of the company's stock, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.