Quintet Private Bank Europe S.A. Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Quintet Private Bank Europe S.A. increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 40.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,450 shares of the semiconductor manufacturer's stock after purchasing an additional 4,465 shares during the period. Quintet Private Bank Europe S.A.'s holdings in Micron Technology were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the fourth quarter valued at $26,000. Beacon Capital Management LLC grew its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the fourth quarter valued at $33,000. Curio Wealth LLC acquired a new stake in Micron Technology during the fourth quarter valued at $34,000. Finally, Hurley Capital LLC acquired a new stake in Micron Technology during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wedbush restated an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Barclays dropped 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 report on Tuesday, April 22nd. Robert W. Baird raised their price target 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. Mizuho lifted their target price 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, Citigroup lifted their target price on shares of Micron Technology from $110.00 to $130.00 and gave the company a "buy" rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and an average target price of $129.00.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares of the company's stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 3,938 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 387,175 shares in the company, valued at $42,929,964. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,904 shares of company stock valued at $4,665,124 over the last ninety days. Company insiders own 0.30% of the company's stock.

Micron Technology Price Performance

MU traded down $0.58 on Friday, reaching $115.60. 17,402,839 shares of the company's stock were exchanged, compared to its average volume of 23,689,137. The stock has a market cap of $129.19 billion, a PE ratio of 33.31 and a beta of 1.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The stock's fifty day moving average price is $87.20 and its 200-day moving average price is $92.51. 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 (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. Micron Technology's quarterly revenue was up 38.2% compared to the same quarter last year. Sell-side 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. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

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.