United Capital Management of KS Inc. Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• United Capital Management of KS Inc. increased its holdings in Micron Technology by 14.4%, now owning 16,338 shares valued at approximately $1.42 million following the purchase of an additional 2,058 shares.
• Executives at Micron Technology, including EVP Sumit Sadana, have sold significant numbers of shares, with Sadana selling 92,638 shares for over $11.6 million, leading to a decrease of 31.51% in his ownership stake.
• Micron reported $1.91 earnings per share for the last quarter, surpassing analysts' expectations, and also declared a quarterly dividend of $0.115 per share, reflecting a yield of 0.4%.

United Capital Management of KS Inc. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,338 shares of the semiconductor manufacturer's stock after buying an additional 2,058 shares during the quarter. United Capital Management of KS Inc.'s holdings in Micron Technology were worth $1,420,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology during the 4th quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology during the 1st quarter valued at $33,000. Roxbury Financial LLC grew its holdings in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. AllSquare Wealth Management LLC grew its holdings in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Micron Technology during the 1st quarter valued at $36,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent research reports. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Susquehanna raised their price objective 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. Stifel Nicolaus lifted their target price on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Micron Technology in a report on Monday, August 11th. Finally, Arete Research raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $147.24.

Insider Activity

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,042 shares of company stock worth $34,679,277. Insiders own 0.30% of the company's stock.

Micron Technology Stock Down 3.5%

NASDAQ MU traded down $4.42 during trading on Friday, reaching $120.87. 18,964,487 shares of the company's stock traded hands, compared to its average volume of 20,422,110. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a market cap of $135.27 billion, a price-to-earnings ratio of 21.78 and a beta of 1.37. The company's 50 day simple moving average is $118.02 and its two-hundred day simple moving average is $99.13. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period last year, the business earned $0.62 EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. Micron Technology's payout ratio is presently 8.29%.

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.