Micron Technology, Inc. (NASDAQ:MU) Stock Position Decreased by MV Capital Management Inc.

MV Capital Management Inc. cut its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,477 shares of the semiconductor manufacturer's stock after selling 4,360 shares during the quarter. MV Capital Management Inc.'s holdings in Micron Technology were worth $2,301,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth approximately $26,000. Beacon Capital Management LLC boosted its holdings in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at $33,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Micron Technology during the 4th quarter worth $34,000. Finally, Curio Wealth LLC purchased a new position in shares of Micron Technology in the 4th quarter worth $34,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MU shares. Mizuho lifted their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Wall Street Zen lowered shares of Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Barclays cut their target price on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and an average price target of $129.00.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $0.58 during trading on Friday, hitting $115.60. 17,402,839 shares of the stock were exchanged, compared to its average volume of 23,659,586. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The stock's fifty day moving average is $87.20 and its 200 day moving average is $92.51. The stock has a market cap of $129.19 billion, a PE ratio of 33.31 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the business earned $0.42 earnings per share. Micron Technology's revenue was up 38.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology's payout ratio is currently 11.03%.

Insider Buying and Selling

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 186,353 shares in the company, valued at $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjay Mehrotra sold 3,938 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $110.88, for a total value of $436,645.44. Following the completion of the sale, the chief executive officer now directly owns 387,175 shares of the company's stock, valued at approximately $42,929,964. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,904 shares of company stock worth $4,665,124 in the last ninety days. 0.30% of the stock is currently owned by corporate 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.