Nicholson Meyer Capital Management Inc. Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Nicholson Meyer Capital Management Inc. bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,575 shares of the semiconductor manufacturer's stock, valued at approximately $224,000.

A number of other institutional investors have also modified their holdings of the stock. Sunbeam Capital Management LLC bought a new stake in Micron Technology during the fourth quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology during the 1st quarter valued at about $33,000. Curio Wealth LLC bought a new stake in shares of Micron Technology during the 4th quarter valued at about $34,000. Hurley Capital LLC acquired a new stake in Micron Technology during the fourth quarter worth about $37,000. Finally, Roxbury Financial LLC raised its stake in Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MU. Royal Bank Of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. TD Cowen increased their target price on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Needham & Company LLC boosted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Barclays increased their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Cantor Fitzgerald boosted their target price on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.21.

Micron Technology Price Performance

Shares of NASDAQ MU traded up $0.85 during midday trading on Wednesday, reaching $121.74. The company's stock had a trading volume of 29,259,282 shares, compared to its average volume of 23,340,098. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $137.13. The company has a market cap of $136.24 billion, a price-to-earnings ratio of 21.94 and a beta of 1.35. The company has a 50 day moving average price of $101.83 and a 200 day moving average price of $94.67. 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 issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The business had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the previous year, the firm posted $0.62 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. Micron Technology's payout ratio is currently 11.03%.

Insiders Place Their Bets

In other news, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was 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 directly owned 201,326 shares of the company's stock, valued at $25,264,399.74. This trade represents a 31.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the sale, the executive vice president owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,042 shares of company stock valued at $30,863,160 over the last quarter. 0.30% of the stock is 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.