Values First Advisors Inc. Makes New Investment in Micron Technology, Inc. (NASDAQ:MU)

Values First Advisors Inc. purchased a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,349 shares of the semiconductor manufacturer's stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MU. Brighton Jones LLC grew its stake in shares of Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after purchasing an additional 976 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after purchasing an additional 13,985 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Micron Technology by 13.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 18,308 shares of the semiconductor manufacturer's stock valued at $1,541,000 after purchasing an additional 2,198 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Micron Technology by 74.7% in the fourth quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer's stock worth $341,000 after buying an additional 1,734 shares in the last quarter. Finally, Inceptionr LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $309,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 of the company's stock, valued at approximately $2,734,864. This trade represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction 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 directly owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,446 shares of company stock valued at $31,154,717. Corporate insiders own 0.30% of the company's stock.

Micron Technology Trading Up 3.8%

Shares of Micron Technology stock traded up $4.50 during mid-day trading on Tuesday, hitting $124.42. 26,184,598 shares of the stock were exchanged, compared to its average volume of 23,302,928. The stock has a market capitalization of $139.24 billion, a price-to-earnings ratio of 22.42 and a beta of 1.35. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $136.50. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $104.39 and a 200 day simple moving average of $95.06.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the firm posted $0.62 earnings per share. Research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's payout ratio is currently 8.29%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Barclays lifted their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Needham & Company LLC lifted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Piper Sandler lifted their price objective on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $146.21.

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.