Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 108.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,799 shares of the semiconductor manufacturer's stock after purchasing an additional 41,468 shares during the quarter. Micron Technology makes up 0.7% of Petredis Investment Advisors LLC's portfolio, making the stock its 29th biggest position. Petredis Investment Advisors LLC's holdings in Micron Technology were worth $6,934,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MU. Xcel Wealth Management LLC grew its holdings in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after purchasing an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after purchasing an additional 108 shares in the last quarter. Twin Capital Management Inc. lifted its stake in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after buying an additional 108 shares in the last quarter. Cim Investment Management Inc. grew its holdings in Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after buying an additional 114 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in Micron Technology by 1.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock worth $883,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 1.7%

NASDAQ MU traded up $1.89 during trading hours on Wednesday, hitting $116.03. The company had a trading volume of 21,558,700 shares, compared to its average volume of 23,683,958. The firm's 50 day moving average is $85.21 and its 200 day moving average is $92.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The company has a market capitalization 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 released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Barclays decreased their price target 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 reissued an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. Mizuho lifted their target price on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Finally, Robert W. Baird boosted their price target on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a 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 assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Friday, June 6th. The stock was 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. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was 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 owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,904 shares of company stock valued at $4,665,124 in the last ninety days. Insiders own 0.30% of the company's stock.

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.