Teamwork Financial Advisors LLC Buys 3,240 Shares of Micron Technology, Inc. (NASDAQ:MU)

Teamwork Financial Advisors LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,089 shares of the semiconductor manufacturer's stock after purchasing an additional 3,240 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Micron Technology were worth $1,311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $1,470,875,000. Capital World Investors lifted its stake in Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. FMR LLC boosted its holdings in 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 purchasing an additional 12,249,341 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Micron Technology by 139.7% in the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares during the period. Finally, Capital International Investors grew its stake in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares during the period. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent analyst reports. Wedbush restated an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.20.

Micron Technology Stock Up 2.9%

Shares of NASDAQ:MU traded up $3.04 during midday trading on Thursday, reaching $106.29. 28,815,167 shares of the company were exchanged, compared to its average volume of 23,561,893. The firm has a market cap of $118.79 billion, a PE ratio of 30.63 and a beta of 1.21. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The stock has a fifty day simple moving average of $83.19 and a two-hundred day simple moving average of $92.03. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

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.