Migdal Insurance & Financial Holdings Ltd. Sells 125,808 Shares of Micron Technology, Inc. (NASDAQ:MU)

Migdal Insurance & Financial Holdings Ltd. cut its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168,285 shares of the semiconductor manufacturer's stock after selling 125,808 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Micron Technology were worth $14,656,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its position in shares of Micron Technology by 43.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after buying an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Micron Technology by 167.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after buying an additional 28,621 shares in the last quarter. Duquesne Family Office LLC bought a new stake in shares of Micron Technology during the 4th quarter worth about $34,412,000. Janus Henderson Group PLC raised its position in shares of Micron Technology by 74.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock worth $222,779,000 after buying an additional 1,130,680 shares in the last quarter. Finally, Mission Wealth Management LP raised its holdings in shares of Micron Technology by 195.2% in the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock worth $1,360,000 after purchasing an additional 10,348 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

NASDAQ:MU traded up $1.13 during trading hours on Friday, hitting $114.39. 19,315,466 shares of the company traded hands, compared to its average volume of 23,315,727. The stock has a market capitalization of $128.02 billion, a price-to-earnings ratio of 20.61 and a beta of 1.35. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The firm has a 50-day moving average of $111.39 and a 200 day moving average of $96.93. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the previous year, the firm posted $0.62 EPS. On average, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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 dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Insider Buying and Selling at Micron Technology

In related news, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the transaction, the executive vice president owned 186,353 shares in the company, valued at $20,498,830. This represents a 9.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock worth $31,154,717 over the last quarter. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MU shares. Wedbush boosted their target price on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. TD Cowen lifted their target price on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Morgan Stanley lifted their target price on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Susquehanna lifted their target price on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company lifted their target price on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $146.44.

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.