25,642 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Rock Point Advisors LLC

Rock Point Advisors LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 25,642 shares of the semiconductor manufacturer's stock, valued at approximately $2,228,000.

Several other hedge funds have also made changes to their positions in the stock. Leavell Investment Management Inc. grew its holdings in Micron Technology by 10.3% during the first quarter. Leavell Investment Management Inc. now owns 3,793 shares of the semiconductor manufacturer's stock worth $330,000 after acquiring an additional 355 shares during the period. Quotient Wealth Partners LLC grew its holdings in shares of Micron Technology by 43.8% during the first quarter. Quotient Wealth Partners LLC now owns 3,874 shares of the semiconductor manufacturer's stock valued at $337,000 after buying an additional 1,180 shares in the last quarter. Banque Pictet & Cie SA boosted its position in Micron Technology by 143.7% during the 1st quarter. Banque Pictet & Cie SA now owns 284,347 shares of the semiconductor manufacturer's stock worth $24,707,000 after acquiring an additional 167,647 shares during the period. Court Place Advisors LLC increased its position in Micron Technology by 4.9% in the 1st quarter. Court Place Advisors LLC now owns 10,120 shares of the semiconductor manufacturer's stock worth $879,000 after purchasing an additional 470 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its position in Micron Technology by 7.5% during the first quarter. Rehmann Capital Advisory Group now owns 3,361 shares of the semiconductor manufacturer's stock valued at $292,000 after acquiring an additional 234 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares in the company, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the transaction, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,446 shares of company stock valued at $31,154,717 over the last quarter. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

MU has been the subject of a number of recent analyst reports. Barclays increased their price target on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Mizuho upped their price objective 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. Morgan Stanley boosted their price target on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Needham & Company LLC raised their target price on Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Susquehanna upped their target price on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.

Micron Technology Trading Up 0.7%

Shares of NASDAQ MU traded up $0.87 during trading hours on Thursday, hitting $123.11. 15,340,104 shares of the company traded hands, compared to its average volume of 23,280,145. The company's 50 day moving average price is $106.25 and its 200 day moving average price is $95.45. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $136.43. The stock has a market capitalization of $137.77 billion, a price-to-earnings ratio of 22.18 and a beta of 1.35. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

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. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

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.