Concurrent Investment Advisors LLC Has $1.12 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Concurrent Investment Advisors LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 63.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,891 shares of the semiconductor manufacturer's stock after acquiring 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.

Several other hedge funds also recently modified their holdings of MU. Braun Stacey Associates Inc. grew its holdings in Micron Technology by 1.6% during the first quarter. Braun Stacey Associates Inc. now owns 232,403 shares of the semiconductor manufacturer's stock worth $20,193,000 after purchasing an additional 3,687 shares during the period. HM Payson & Co. grew its holdings in Micron Technology by 25.0% during the first quarter. HM Payson & Co. now owns 1,958 shares of the semiconductor manufacturer's stock worth $170,000 after purchasing an additional 392 shares during the period. World Investment Advisors grew its holdings in Micron Technology by 13.2% during the first quarter. World Investment Advisors now owns 8,228 shares of the semiconductor manufacturer's stock worth $715,000 after purchasing an additional 959 shares during the period. Wayfinding Financial LLC bought a new position in Micron Technology during the first quarter worth about $61,000. Finally, Olde Wealth Management LLC bought a new position in Micron Technology during the first quarter worth about $124,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $1.15 during trading on Thursday, hitting $123.39. 6,426,818 shares of the company were exchanged, compared to its average volume of 23,243,122. The business's 50 day moving average is $106.25 and its 200-day moving average is $95.45. The company has a market capitalization of $138.09 billion, a P/E ratio of 22.24 and a beta of 1.35. 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 1-year low of $61.54 and a 1-year high of $136.50.

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

Micron Technology Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. Micron Technology's dividend payout ratio is 8.29%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MU shares. Raymond James Financial boosted their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Cantor Fitzgerald boosted their price objective on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Mizuho boosted their price objective on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Piper Sandler boosted their price objective on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Stifel Nicolaus boosted their price objective on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $146.44.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the sale, the executive vice president owned 148,167 shares of the company's stock, valued at $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the sale, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,446 shares of company stock valued at $31,154,717 over the last quarter. 0.30% of the stock is currently owned by company insiders.

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.