Balboa Wealth Partners Purchases 2,874 Shares of Micron Technology, Inc. (NASDAQ:MU)

Balboa Wealth Partners boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,267 shares of the semiconductor manufacturer's stock after purchasing an additional 2,874 shares during the period. Balboa Wealth Partners' holdings in Micron Technology were worth $2,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC grew its position in Micron Technology by 0.4% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 590,082 shares of the semiconductor manufacturer's stock worth $51,272,000 after purchasing an additional 2,616 shares in the last quarter. Consolidated Portfolio Review Corp grew its position in Micron Technology by 30.0% during the 1st quarter. Consolidated Portfolio Review Corp now owns 3,311 shares of the semiconductor manufacturer's stock worth $288,000 after purchasing an additional 764 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in Micron Technology by 513.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 552 shares of the semiconductor manufacturer's stock worth $48,000 after purchasing an additional 462 shares in the last quarter. Legacy Advisors LLC grew its holdings in shares of Micron Technology by 4.4% during the 1st quarter. Legacy Advisors LLC now owns 6,000 shares of the semiconductor manufacturer's stock valued at $522,000 after acquiring an additional 255 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Micron Technology by 5.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 456,376 shares of the semiconductor manufacturer's stock valued at $39,655,000 after acquiring an additional 23,150 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 2,290 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $120.31, for a total transaction of $275,509.90. Following the completion of the transaction, the chief executive officer now owns 384,885 shares in the company, valued at $46,305,514.35. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president now owns 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,404 shares of company stock worth $8,509,167. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded down $1.24 during midday trading on Friday, hitting $124.76. The company's stock had a trading volume of 36,813,002 shares, compared to its average volume of 23,367,003. The stock has a market capitalization of $139.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28. The stock's 50 day simple moving average is $98.71 and its 200 day simple moving average is $94.24. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $137.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter last year, the company earned $0.62 earnings per share. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's payout ratio is presently 11.03%.

Analyst Upgrades and Downgrades

MU has been the topic of several research analyst reports. Royal Bank Of Canada set a $125.00 price target on shares of Micron Technology in a report on Wednesday, March 19th. Raymond James Financial upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday. Cantor Fitzgerald upped their price objective on shares of Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday. Stifel Nicolaus upped their price objective on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Needham & Company LLC upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $146.21.

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.