Micron Technology, Inc. (NASDAQ:MU) Stock Position Raised by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,905 shares of the semiconductor manufacturer's stock after acquiring an additional 26,178 shares during the period. QRG Capital Management Inc.'s holdings in Micron Technology were worth $17,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth about $26,000. Beacon Capital Management LLC boosted its stake in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology during the first quarter worth about $33,000. Finally, Curio Wealth LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MU shares. Robert W. Baird raised their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday, March 21st. UBS Group lifted their price target on shares of Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Morgan Stanley dropped their price objective on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Finally, Citigroup boosted their target price on Micron Technology from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and a consensus price target of $129.00.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 5,210 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $121.35, for a total value of $632,233.50. Following the transaction, the chief executive officer now owns 379,675 shares in the company, valued at $46,073,561.25. The trade was a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business'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 completion of the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,404 shares of company stock worth $5,572,867. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Up 1.2%

Shares of NASDAQ MU traded up $1.48 during trading on Wednesday, hitting $121.82. 20,156,669 shares of the company traded hands, compared to its average volume of 23,618,199. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.41. The company has a 50-day moving average price of $90.13 and a 200-day moving average price of $92.87. The firm has a market capitalization of $136.14 billion, a P/E ratio of 29.21 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data 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. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. The company had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the previous year, the company earned $0.42 EPS. The business's quarterly revenue was up 38.2% compared to the same quarter last year. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. 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.