MIG Capital LLC Buys 4,595 Shares of Micron Technology, Inc. $MU

Key Points

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MIG Capital LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 119.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,441 shares of the semiconductor manufacturer's stock after purchasing an additional 4,595 shares during the period. MIG Capital LLC's holdings in Micron Technology were worth $733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology during the first quarter valued at approximately $33,000. AllSquare Wealth Management LLC lifted its position in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology during the first quarter valued at approximately $36,000. Finally, Roxbury Financial LLC lifted its position in 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 acquiring an additional 300 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. KeyCorp increased their target price on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Barclays increased their target price on shares of Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. increased their target price on shares of Micron Technology from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Finally, UBS Group increased their target price on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $147.24.

Micron Technology Trading Up 2.2%

Shares of Micron Technology stock opened at $123.55 on Tuesday. 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 firm has a fifty day moving average price of $118.27 and a 200 day moving average price of $99.40. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85. The stock has a market cap of $138.27 billion, a PE ratio of 22.26 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results 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 firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter last year, the company posted $0.62 earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company 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. This represents a $0.46 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the sale, the director owned 22,550 shares in the company, valued at approximately $2,734,864. This trade represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock valued at $34,679,277 in the last quarter. 0.30% of the stock is currently owned by insiders.

Micron Technology 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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