Xponance Inc. Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Xponance Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,189 shares of the semiconductor manufacturer's stock after buying an additional 4,782 shares during the period. Xponance Inc.'s holdings in Micron Technology were worth $13,832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the first quarter worth $33,000. Curio Wealth LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $34,000. Hurley Capital LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $37,000. Finally, Roxbury Financial LLC increased its stake in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Mizuho raised their price target on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. KeyCorp raised their price target on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Royal Bank Of Canada set a $125.00 price target on shares of Micron Technology in a research report on Wednesday, March 19th. Wedbush raised their price target on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Finally, Wall Street Zen upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.

Micron Technology Trading Up 1.2%

Shares of MU stock opened at $124.53 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The stock has a market capitalization of $139.36 billion, a P/E ratio of 22.44 and a beta of 1.35. The company has a 50 day moving average price of $108.03 and a 200 day moving average price of $95.92. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $135.35.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The firm 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 quarter in the previous year, the business posted $0.62 earnings per share. Equities research analysts predict 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 will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president owned 148,167 shares in the company, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 254,446 shares of company stock worth $31,154,717 over the last ninety days. 0.30% of the stock is currently owned by 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.

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