Y.D. More Investments Ltd Has $962,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Y.D. More Investments Ltd increased its holdings in Micron Technology by 85.2% in Q1, owning 11,073 shares worth approximately $962,000.
• Insider selling has been significant, with executive vice president Sumit Sadana selling over 92,000 shares for over $11.6 million on June 27, reflecting a 31.51% decrease in ownership.
• Micron Technology's quarterly earnings exceeded expectations at $1.91 per share, with revenues reaching $9.30 billion compared to analyst projections of $8.83 billion.

Y.D. More Investments Ltd grew its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 85.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,073 shares of the semiconductor manufacturer's stock after buying an additional 5,095 shares during the quarter. Y.D. More Investments Ltd's holdings in Micron Technology were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MU. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the 4th quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology during the first quarter worth $33,000. 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 valued at $37,000 after buying an additional 300 shares in the last quarter. AllSquare Wealth Management LLC raised its holdings in shares of Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Micron Technology in the first quarter valued at about $36,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the 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 transaction, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock valued at $34,679,277 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 0.3%

NASDAQ:MU opened at $108.78 on Thursday. The business's 50-day simple moving average is $115.16 and its 200-day simple moving average is $98.09. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $129.85. 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 stock has a market capitalization of $121.74 billion, a PE ratio of 19.60 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly 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. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter in the prior year, the company earned $0.62 earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MU shares. Morgan Stanley raised their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Rosenblatt Securities increased their price target on shares of Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. 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 report on Thursday, June 26th. Robert W. Baird boosted their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Finally, Arete Research upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.

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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