Concurrent Investment Advisors LLC Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

Concurrent Investment Advisors LLC grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 63.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,891 shares of the semiconductor manufacturer's stock after buying an additional 5,018 shares during the period. Concurrent Investment Advisors LLC's holdings in Micron Technology were worth $1,120,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after acquiring an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after acquiring an additional 13,985 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Micron Technology by 74.7% in the fourth quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after acquiring an additional 1,734 shares in the last quarter. Personal CFO Solutions LLC acquired a new stake in Micron Technology in the fourth quarter worth about $235,000. Finally, Moran Wealth Management LLC boosted its holdings in Micron Technology by 258.9% in the fourth quarter. Moran Wealth Management LLC now owns 46,696 shares of the semiconductor manufacturer's stock worth $3,930,000 after acquiring an additional 33,685 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the sale, the director directly owned 22,550 shares of the company's stock, valued at approximately $2,734,864. This trade represents a 9.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of the 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 approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock worth $31,154,717 in the last ninety days. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Stifel Nicolaus lifted their target price on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Rosenblatt Securities lifted their price target on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. UBS Group boosted their price objective on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. The Goldman Sachs Group started coverage on Micron Technology in a research note on Thursday. They issued a "neutral" rating and a $130.00 price target on the stock. Finally, Robert W. Baird lifted their price target on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average price target of $146.44.

Micron Technology Stock Up 0.7%

NASDAQ MU traded up $0.87 during trading hours on Thursday, hitting $123.11. 15,340,104 shares of the company were exchanged, compared to its average volume of 23,280,145. The company has a 50 day moving average of $106.25 and a two-hundred day moving average of $95.45. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $136.43. The firm has a market cap of $137.77 billion, a price-to-earnings ratio of 22.18 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter in the prior year, the business posted $0.62 EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

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.