Trivium Point Advisory LLC Increases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Trivium Point Advisory LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,949 shares of the semiconductor manufacturer's stock after purchasing an additional 3,444 shares during the quarter. Trivium Point Advisory LLC's holdings in Micron Technology were worth $2,428,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital World Investors boosted 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 buying an additional 15,993,036 shares during the period. Capital Research Global Investors boosted its stake in Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after buying an additional 9,489,579 shares during the period. Capital International Investors boosted its stake in Micron Technology by 36.3% during the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after buying an additional 4,375,232 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Micron Technology by 198.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,545,882 shares of the semiconductor manufacturer's stock worth $550,903,000 after buying an additional 4,352,225 shares during the period. Finally, Nuveen LLC purchased a new position in Micron Technology during the first quarter worth about $369,191,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Micron Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $150.00 target price on the stock. Arete Research raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Robert W. Baird raised their target price on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Susquehanna raised their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday, June 26th. Finally, Wedbush raised their price objective on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $147.24.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the sale, the director owned 22,550 shares in the company, valued at approximately $2,734,864. The trade was a 9.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the sale, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock worth $34,679,277 over the last ninety days. Insiders own 0.30% of the company's stock.

Micron Technology Trading Down 2.7%

Shares of MU stock opened at $124.27 on Thursday. The firm has a 50-day moving average price of $117.39 and a 200 day moving average price of $98.60. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The company has a market capitalization of $139.07 billion, a price-to-earnings ratio of 22.39 and a beta of 1.37. 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 announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the previous year, the company posted $0.62 EPS. Research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.4%. Micron Technology's payout ratio is 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.

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