Pittenger & Anderson Inc. Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Pittenger & Anderson Inc. boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1,800.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,375 shares of the semiconductor manufacturer's stock after purchasing an additional 2,250 shares during the period. Pittenger & Anderson Inc.'s holdings in Micron Technology were worth $206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology during the 1st quarter valued at $33,000. Curio Wealth LLC bought a new stake in shares of Micron Technology during the 4th quarter worth $34,000. Hurley Capital LLC bought a new stake in shares of Micron Technology during the 4th quarter worth $37,000. Finally, Roxbury Financial LLC boosted its stake in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Trading Up 1.2%

Micron Technology stock opened at $124.53 on Monday. The firm has a 50-day moving average of $108.03 and a 200-day moving average of $96.01. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $135.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company has a market cap of $139.36 billion, a price-to-earnings ratio of 22.44 and a beta of 1.35.

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, beating analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the prior year, the firm earned $0.62 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. Micron Technology's payout ratio is presently 8.29%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Susquehanna raised their target price on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. The Goldman Sachs Group initiated coverage on Micron Technology in a research note on Thursday. They issued a "neutral" rating and a $130.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Micron Technology in a research report on Thursday. They set a "buy" rating and a $150.00 target price on the stock. Finally, TD Cowen lifted 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and an average price target of $146.44.

Insider Activity

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the transaction, the executive vice president owned 186,353 shares in the company, valued at $20,498,830. This represents a 9.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,446 shares of company stock worth $31,154,717. 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.

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