Werlinich Asset Management LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Werlinich Asset Management LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,570 shares of the semiconductor manufacturer's stock, valued at approximately $918,000.

Several other large investors have also bought and sold shares of the business. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at approximately $26,000. Beacon Capital Management LLC raised its holdings in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Micron Technology in the fourth quarter worth $33,000. Activest Wealth Management boosted its position in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 350 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology in the 4th quarter valued at $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 3,938 shares of Micron Technology stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $110.88, for a total value of $436,645.44. Following the completion of the sale, the chief executive officer now directly owns 387,175 shares in the company, valued at approximately $42,929,964. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,904 shares of company stock valued at $4,665,124 in the last three months. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock traded up $0.15 during trading on Thursday, hitting $116.18. 17,036,682 shares of the stock were exchanged, compared to its average volume of 23,657,500. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The stock has a market capitalization of $129.84 billion, a price-to-earnings ratio of 33.48 and a beta of 1.28. The company has a fifty day moving average price of $86.24 and a 200-day moving average price of $92.43. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group raised their price objective on Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. dropped their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Robert W. Baird boosted their price objective on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. Rosenblatt Securities dropped their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, Citigroup lifted their price target on shares of Micron Technology from $110.00 to $130.00 and gave the company a "buy" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.00.

About Micron Technology

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.