Micron Technology, Inc. (NASDAQ:MU) Position Boosted by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 17.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 30,191 shares of the semiconductor manufacturer's stock after acquiring an additional 4,480 shares during the quarter. Park Avenue Securities LLC's holdings in Micron Technology were worth $2,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after purchasing an additional 976 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Micron Technology by 1.1% during the fourth quarter. Apollon Wealth Management LLC now owns 24,716 shares of the semiconductor manufacturer's stock worth $2,080,000 after buying an additional 271 shares during the period. Kingsview Wealth Management LLC grew its holdings in shares of Micron Technology by 7.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 4,867 shares of the semiconductor manufacturer's stock worth $410,000 after buying an additional 330 shares during the last quarter. Empowered Funds LLC raised its stake in Micron Technology by 13.2% during the 4th quarter. Empowered Funds LLC now owns 61,364 shares of the semiconductor manufacturer's stock valued at $5,164,000 after acquiring an additional 7,176 shares during the last quarter. Finally, Quotient Wealth Partners LLC grew its position in Micron Technology by 6.5% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,694 shares of the semiconductor manufacturer's stock valued at $227,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 3,938 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.88, for a total transaction of $436,645.44. Following the completion of the transaction, the chief executive officer now owns 387,175 shares of the company's stock, valued at $42,929,964. This represents a 1.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 44,904 shares of company stock valued at $4,665,124. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MU shares. Wedbush reiterated an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Mizuho boosted their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Finally, JPMorgan Chase & Co. reduced their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $129.00.

Micron Technology Stock Up 1.7%

NASDAQ MU traded up $1.89 during mid-day trading on Wednesday, reaching $116.03. 21,558,700 shares of the company's stock traded hands, compared to its average volume of 23,683,958. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a fifty day simple moving average of $85.21 and a 200-day simple moving average of $92.26. The company has a market cap of $129.67 billion, a price-to-earnings ratio of 33.44 and a beta of 1.28.

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

Micron Technology Dividend Announcement

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

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.