Rheos Capital Works Inc. Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Rheos Capital Works Inc. boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 31.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,000 shares of the semiconductor manufacturer's stock after buying an additional 40,000 shares during the quarter. Rheos Capital Works Inc.'s holdings in Micron Technology were worth $14,684,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MU. Sunbeam Capital Management LLC acquired a new position in Micron Technology during the 4th quarter valued at about $26,000. Beacon Capital Management LLC lifted its holdings in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth $33,000. Activest Wealth Management raised its position in shares of Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 350 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology in the 4th quarter valued at $34,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Up 0.1%

Shares of MU traded up $0.15 during trading hours on Thursday, reaching $116.18. 17,036,682 shares of the company traded hands, compared to its average volume of 23,657,567. 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 12 month low of $61.54 and a 12 month high of $157.54. The company's fifty day moving average price is $86.24 and its two-hundred day moving average price is $92.43. The company has a market capitalization of $129.84 billion, a price-to-earnings ratio of 33.48 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business's revenue was up 38.2% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, March 31st. Micron Technology's payout ratio is presently 11.03%.

Analyst Ratings Changes

Several brokerages have commented on MU. China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research note on Wednesday, March 26th. Robert W. Baird raised their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Morgan Stanley lowered their price target on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. UBS Group increased their target price on Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Finally, Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $129.00.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares of the company's stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,904 shares of company stock valued at $4,665,124 over the last three months. Insiders own 0.30% of the company's stock.

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.