Private Advisor Group LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,349 shares of the semiconductor manufacturer's stock after acquiring an additional 4,172 shares during the quarter. Private Advisor Group LLC's holdings in Micron Technology were worth $8,893,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. CIBC Private Wealth Group LLC lifted its stake in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after acquiring an additional 4,264 shares during the period. Landscape Capital Management L.L.C. lifted its position in shares of Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after acquiring an additional 28,621 shares in the last quarter. Duquesne Family Office LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at approximately $34,412,000. Janus Henderson Group PLC lifted its position in shares of Micron Technology by 74.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after acquiring an additional 1,130,680 shares in the last quarter. Finally, Mission Wealth Management LP lifted its position in shares of Micron Technology by 195.2% in the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock valued at $1,360,000 after acquiring an additional 10,348 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Morgan Stanley lifted their price target on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Wedbush boosted their price objective on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Barclays boosted their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, Robert W. Baird upped their price target on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.
Check Out Our Latest Research Report on Micron Technology
Insider Transactions at Micron Technology
In related news, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This trade represents a 22.53% 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 Micron Technology stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the sale, the executive vice president directly owned 148,167 shares in the company, valued at $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is owned by company insiders.
Micron Technology Trading Up 1.6%
Micron Technology stock traded up $1.77 during midday trading on Thursday, reaching $111.60. The stock had a trading volume of 11,591,119 shares, compared to its average volume of 23,426,244. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a market cap of $124.89 billion, a price-to-earnings ratio of 20.14 and a beta of 1.35. The firm's fifty day simple moving average is $112.35 and its two-hundred day simple moving average is $97.41.
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, beating analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. 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 business earned $0.62 earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, July 7th. Micron Technology's payout ratio is 8.29%.
About Micron Technology
(
Free Report)
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.
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