Rhumbline Advisers Buys 30,143 Shares of Micron Technology, Inc. (NASDAQ:MU)

Rhumbline Advisers lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,046,749 shares of the semiconductor manufacturer's stock after purchasing an additional 30,143 shares during the period. Rhumbline Advisers owned approximately 0.18% of Micron Technology worth $177,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. E Fund Management Co. Ltd. raised its position in Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after buying an additional 8,780 shares during the period. CIBC Private Wealth Group LLC grew its stake in Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. grew its stake in Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Duquesne Family Office LLC purchased a new position in Micron Technology in the fourth quarter valued at about $34,412,000. Finally, SeaBridge Investment Advisors LLC purchased a new position in Micron Technology in the fourth quarter valued at about $240,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Micron Technology Stock Up 3.9%

Shares of MU stock traded up $3.72 on Monday, reaching $98.18. 16,832,283 shares of the company were exchanged, compared to its average volume of 23,507,422. The company has a market cap of $109.72 billion, a price-to-earnings ratio of 28.29 and a beta of 1.21. The company has a 50-day moving average of $82.55 and a 200-day moving average of $91.87. 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 one year low of $61.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (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 analysts' expectations of $7.93 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The business's revenue was up 38.2% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 yield of 0.47%. Micron Technology's payout ratio is 11.03%.

Analyst Ratings Changes

A number of brokerages have commented on MU. Rosenblatt Securities lowered their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a research note on Monday, April 28th. Barclays decreased their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Citigroup decreased their price target on Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, UBS Group decreased their price target on Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

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.