Rice Partnership LLC Reduces Stake in Micron Technology, Inc. (NASDAQ:MU)

Rice Partnership LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,984 shares of the semiconductor manufacturer's stock after selling 4,471 shares during the quarter. Micron Technology comprises approximately 1.1% of Rice Partnership LLC's portfolio, making the stock its 28th biggest position. Rice Partnership LLC's holdings in Micron Technology were worth $5,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC bought a new stake in Micron Technology in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology during the 1st quarter valued at about $33,000. Curio Wealth LLC bought a new stake in shares of Micron Technology during the 4th quarter valued at about $34,000. Hurley Capital LLC bought a new stake in shares of Micron Technology during the 4th quarter valued at about $37,000. Finally, Roxbury Financial LLC grew its stake in shares of Micron Technology by 306.1% during the 1st 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 period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MU shares. Mizuho boosted their target price on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Citigroup increased their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Susquehanna increased their price target on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research report on Thursday, June 26th. Stifel Nicolaus increased their price target on shares of Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, Morgan Stanley increased their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. One 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 company's stock. According to MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $146.21.

Micron Technology Trading Down 1.9%

Shares of MU stock traded down $2.37 on Monday, reaching $119.92. 19,115,103 shares of the stock were exchanged, compared to its average volume of 23,291,228. 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 one year low of $61.54 and a one year high of $136.50. The stock has a 50 day moving average price of $103.57 and a 200 day moving average price of $94.85. The stock has a market cap of $134.20 billion, a PE ratio of 21.61 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 (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The business 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 period in the previous year, the firm earned $0.62 EPS. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared 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. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's payout ratio is currently 8.29%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock valued at $31,154,717 in the last ninety days. Insiders own 0.30% of the company's stock.

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.