Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 22.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,253 shares of the semiconductor manufacturer's stock after acquiring an additional 36,125 shares during the quarter. Penserra Capital Management LLC's holdings in Micron Technology were worth $17,136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MU. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares during the period. Twin Capital Management Inc. grew its holdings in Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after acquiring an additional 108 shares during the period. Cim Investment Management Inc. grew its position in Micron Technology by 0.5% during the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after buying an additional 114 shares during the period. Hazlett Burt & Watson Inc. grew its holdings in shares of Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock worth $883,000 after acquiring an additional 119 shares during the period. Finally, FineMark National Bank & Trust grew its holdings in Micron Technology by 3.9% in the fourth quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock valued at $306,000 after purchasing an additional 136 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MU shares. Stifel Nicolaus increased their price target on shares of Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Royal Bank Of Canada set a $125.00 price objective on Micron Technology in a research note on Wednesday, March 19th. Bank of America raised their price target on shares of Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. UBS Group raised their price target 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. Finally, Wedbush raised their price target 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. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $146.21.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the transaction, the director directly owned 22,762 shares of the company's stock, valued at $2,848,664.30. This represents a 23.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the company's 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 completion of the sale, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. This represents 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 254,446 shares of company stock worth $31,154,717 over the last three months. Insiders own 0.30% of the company's stock.

Micron Technology Stock Up 0.2%

Shares of MU traded up $0.29 during midday trading on Friday, reaching $122.03. 13,247,931 shares of the company were exchanged, compared to its average volume of 23,307,873. The stock has a 50-day moving average price of $103.57 and a 200-day moving average price of $94.80. The company has a market cap of $136.56 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $136.50. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results 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 return on equity of 13.60% and a net margin of 18.41%. The firm 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 company posted $0.62 EPS. Research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. 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.