Simon Quick Advisors LLC Acquires 2,378 Shares of Micron Technology, Inc. (NASDAQ:MU)

Simon Quick Advisors LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 55.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,672 shares of the semiconductor manufacturer's stock after buying an additional 2,378 shares during the period. Simon Quick Advisors LLC's holdings in Micron Technology were worth $580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock valued at $8,403,982,000 after acquiring an additional 888,087 shares during the last quarter. FMR LLC raised its stake in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares during the last quarter. Capital World Investors raised its stake in Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after buying an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC raised its stake in Micron Technology by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after buying an additional 726,282 shares in the last quarter. Finally, Norges Bank bought a new position in Micron Technology in the fourth quarter worth about $1,470,875,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $0.58 on Friday, hitting $115.60. 17,402,839 shares of the company's stock were exchanged, compared to its average volume of 23,689,160. The company has a 50-day simple moving average of $88.20 and a 200-day simple moving average of $92.60. The stock has a market capitalization of $129.19 billion, a PE ratio of 33.31 and a beta of 1.28. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given 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 0.40%. Micron Technology's payout ratio is 11.03%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MU. Mizuho increased their price target on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Citigroup increased their price target on shares of Micron Technology from $110.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Finally, Morgan Stanley decreased their price target on shares of 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and an average price target of $129.00.

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction 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 in the company, valued at approximately $1,996,320. The trade was a 8.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34% 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 worth $4,665,124 in the last three months. Company 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.