Concurrent Investment Advisors LLC Acquires 5,018 Shares of Micron Technology, Inc. (NASDAQ:MU)

Concurrent Investment Advisors LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 63.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,891 shares of the semiconductor manufacturer's stock after purchasing an additional 5,018 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Micron Technology were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the first quarter valued at approximately $33,000. Roxbury Financial LLC lifted its holdings in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Curio Wealth LLC bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $34,000. Finally, Hurley Capital LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the topic of several recent analyst reports. Mizuho increased their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Piper Sandler raised their price target on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. KeyCorp boosted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Rosenblatt Securities increased their price objective on shares of Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, Cantor Fitzgerald lifted their target price on shares of Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus price target of $146.21.

Insider Buying and Selling

In related news, EVP Sumit Sadana sold 92,638 shares of the 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 sale, the executive vice president owned 201,326 shares in the company, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 148,167 shares in the company, 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. Insiders have sold a total of 254,446 shares of company stock valued at $31,154,717 in the last quarter. 0.30% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of NASDAQ MU traded down $2.18 during mid-day trading on Wednesday, reaching $122.24. The company's stock had a trading volume of 20,428,033 shares, compared to its average volume of 23,302,711. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $136.50. The stock has a fifty day moving average of $105.34 and a two-hundred day moving average of $95.26. The firm has a market capitalization of $136.80 billion, a PE ratio of 22.03 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates 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 last year, the business posted $0.62 earnings per share. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is 8.29%.

About Micron Technology

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.