Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 44.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,911 shares of the semiconductor manufacturer's stock after purchasing an additional 2,752 shares during the quarter. Transcend Capital Advisors LLC's holdings in Micron Technology were worth $774,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the first quarter worth $33,000. Roxbury Financial LLC raised its stake in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares during the period. Curio Wealth LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at $34,000. Finally, Hurley Capital LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at $37,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. KeyCorp raised their target price on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday. Wedbush raised their target price on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday. Needham & Company LLC raised their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Citigroup raised their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Insider Activity

In related news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total value of $2,502,200.00. Following the sale, the executive vice president now directly owns 166,353 shares in the company, valued at $20,812,423.83. This trade represents a 10.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,404 shares of company stock valued at $8,509,167. Company insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of MU stock opened at $124.76 on Friday. The firm has a market cap of $139.43 billion, a P/E ratio of 22.48 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $137.13. The firm has a fifty day moving average of $98.71 and a two-hundred day moving average of $94.18.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the business posted $0.62 EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share 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. Stockholders of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

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.

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