Madison Asset Management LLC Takes $261,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Madison Asset Management LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the semiconductor manufacturer's stock, valued at approximately $261,000.

A number of other large investors also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the first quarter worth $33,000. AllSquare Wealth Management LLC grew its holdings in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after buying an additional 200 shares in the last quarter. Hurley Capital LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth $37,000. Finally, Roxbury Financial LLC grew its holdings in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MU. Wells Fargo & Company upped their price objective on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. increased their target price on shares of Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Raymond James Financial increased their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Wedbush increased their target price on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Finally, UBS Group increased their target price on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $146.44.

Micron Technology Price Performance

Shares of Micron Technology stock traded down $0.47 on Friday, hitting $111.26. The company's stock had a trading volume of 16,240,251 shares, compared to its average volume of 22,703,478. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $129.85. 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 firm has a fifty day moving average price of $112.94 and a 200-day moving average price of $97.56. The company has a market capitalization of $124.51 billion, a P/E ratio of 20.05 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the firm earned $0.62 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. Micron Technology's payout ratio is currently 8.29%.

Insider Buying and Selling at Micron Technology

In related news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,446 shares of company stock worth $34,871,597. 0.30% of the stock is currently owned by insiders.

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.