NBC Securities Inc. Has $1.81 Million Position in Micron Technology, Inc. (NASDAQ:MU)

NBC Securities Inc. raised its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 122,441.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,832 shares of the semiconductor manufacturer's stock after buying an additional 20,815 shares during the period. NBC Securities Inc.'s holdings in Micron Technology were worth $1,810,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of NASDAQ MU traded up $3.04 during midday trading on Thursday, reaching $106.29. 28,287,496 shares of the company were exchanged, compared to its average volume of 23,561,059. The stock's 50-day moving average price is $83.19 and its 200-day moving average price is $92.03. The stock has a market cap of $118.79 billion, a P/E ratio of 30.63 and a beta of 1.21. 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 one year low of $61.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the business posted $0.42 EPS. Micron Technology's revenue for the quarter was up 38.2% on a year-over-year basis. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MU shares. Wall Street Zen cut shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Mizuho raised their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday. Wedbush restated an "underperform" rating on shares of Micron Technology in a report on Monday, April 28th. Citigroup decreased their target price on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Royal Bank of Canada set a $125.00 price target on Micron Technology in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus target price of $128.20.

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.