Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. increased its stake in Micron Technology by 16.5%, owning 17,989 shares valued at approximately $1.56 million after acquiring an additional 2,546 shares.
• The CFO and a director of Micron Technology sold significant amounts of their shares, with the CFO selling 34,000 shares valued at $3.72 million, reflecting an 11.41% decrease in his holdings.
• Analysts have shown strong optimism for Micron Technology, with multiple firms raising their price targets, and the stock currently holding a consensus rating of "Moderate Buy" with a price target of $146.44.

Harbour Investments Inc. raised its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,989 shares of the semiconductor manufacturer's stock after purchasing an additional 2,546 shares during the period. Harbour Investments Inc.'s holdings in Micron Technology were worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC purchased a new position in Micron Technology in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology in the first quarter valued at $33,000. AllSquare Wealth Management LLC boosted its stake in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology in the 1st quarter worth approximately $36,000. Finally, Hurley Capital LLC acquired a new position in Micron Technology in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Transactions at Micron Technology

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the transaction, the chief financial officer owned 264,036 shares of the company's stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 286,042 shares of company stock valued at $34,679,277. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

MU has been the topic of several analyst reports. KeyCorp lifted their price objective on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. UBS Group boosted their target price on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Needham & Company LLC boosted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, TD Cowen upped their price target on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Micron Technology Stock Performance

NASDAQ MU opened at $104.88 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $114.36 and a 200 day simple moving average of $97.99. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. The company has a market cap of $117.37 billion, a P/E ratio of 18.90 and a beta of 1.37.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

Micron Technology Company 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.

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