Sienna Gestion lowered its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,164 shares of the semiconductor manufacturer's stock after selling 3,274 shares during the quarter. Sienna Gestion's holdings in Micron Technology were worth $4,237,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the 1st quarter valued at about $33,000. AllSquare Wealth Management LLC boosted its stake in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Micron Technology in the 1st quarter worth approximately $36,000. Finally, Roxbury Financial LLC lifted its position 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 worth $37,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on MU. Robert W. Baird boosted their price target on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. Susquehanna raised their target price on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research note on Thursday, June 26th. Raymond James Financial lifted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Bank of America lifted their price objective on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Finally, Rosenblatt Securities boosted their price target 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.24.
Get Our Latest Stock Report on Micron Technology
Micron Technology Trading Down 2.7%
MU opened at $124.27 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company's 50 day simple moving average is $117.39 and its two-hundred day simple moving average is $98.60. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The firm has a market capitalization of $139.07 billion, a price-to-earnings ratio of 22.39 and a beta of 1.37.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data 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. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the previous year, the company earned $0.62 EPS. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.4%. Micron Technology's dividend payout ratio is 8.29%.
Insider Activity
In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated 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 sale, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction dated Friday, June 27th. The shares were 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 owned 201,326 shares in the company, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 286,042 shares of company stock valued at $34,679,277 in the last ninety days. 0.30% of the stock is owned by company insiders.
Micron Technology Profile
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Free Report)
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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