Naples Global Advisors LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Naples Global Advisors LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,937 shares of the semiconductor manufacturer's stock after buying an additional 2,626 shares during the quarter. Naples Global Advisors LLC's holdings in Micron Technology were worth $3,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in MU. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the fourth quarter worth about $26,000. Beacon Capital Management LLC lifted its holdings in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter worth approximately $33,000. Roxbury Financial LLC grew its holdings in 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 buying an additional 300 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MU shares. Cantor Fitzgerald restated an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. UBS Group increased their price objective on shares of Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a report on Thursday. KGI Securities raised Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, Mizuho raised their price target on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $128.20.

Micron Technology Trading Up 2.1%

Shares of NASDAQ:MU traded up $2.27 during trading hours on Friday, hitting $108.56. 20,687,183 shares of the company's stock traded hands, compared to its average volume of 23,555,497. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business has a fifty day moving average price of $83.57 and a 200-day moving average price of $92.09. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The firm has a market capitalization of $121.32 billion, a P/E ratio of 31.29 and a beta of 1.28.

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

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

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.