PFG Investments LLC Increases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

PFG Investments LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 340.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,349 shares of the semiconductor manufacturer's stock after buying an additional 14,959 shares during the period. PFG Investments LLC's holdings in Micron Technology were worth $2,281,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Parsons Capital Management Inc. RI raised its position in shares of Micron Technology by 33.9% in the 1st quarter. Parsons Capital Management Inc. RI now owns 3,218 shares of the semiconductor manufacturer's stock valued at $379,000 after purchasing an additional 814 shares in the last quarter. Drive Wealth Management LLC raised its holdings in Micron Technology by 6.0% in the first quarter. Drive Wealth Management LLC now owns 4,534 shares of the semiconductor manufacturer's stock valued at $535,000 after acquiring an additional 258 shares in the last quarter. Raymond James & Associates boosted its stake in Micron Technology by 41.0% during the 1st quarter. Raymond James & Associates now owns 1,628,113 shares of the semiconductor manufacturer's stock valued at $191,938,000 after acquiring an additional 473,450 shares during the last quarter. Aurora Private Wealth Inc. acquired a new position in Micron Technology during the 1st quarter worth $252,000. Finally, Maryland State Retirement & Pension System raised its stake in shares of Micron Technology by 0.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 85,810 shares of the semiconductor manufacturer's stock valued at $10,016,000 after purchasing an additional 727 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total transaction of $593,880.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company's stock, valued at $66,901,175.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total transaction of $593,880.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $66,901,175.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company's stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,890 shares of company stock valued at $29,738,667. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Up 2.9 %

Micron Technology stock traded up $3.26 during trading hours on Friday, hitting $114.84. The company had a trading volume of 20,612,299 shares, compared to its average volume of 24,401,036. The firm's fifty day moving average is $105.94 and its 200-day moving average is $88.43. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a market capitalization of $127.17 billion, a P/E ratio of -33.29 and a beta of 1.27.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.35 billion. During the same period in the previous year, the business posted ($2.03) earnings per share. Micron Technology's quarterly revenue was up 57.7% on a year-over-year basis. On average, research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology's dividend payout ratio is currently -13.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MU shares. Robert W. Baird upped their price target on Micron Technology from $78.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, March 19th. Bank of America raised their price target on shares of Micron Technology from $120.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. KeyCorp boosted their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. StockNews.com raised shares of Micron Technology from a "sell" rating to a "hold" rating in a report on Friday, March 22nd. Finally, Barclays upped their target price on Micron Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.20.

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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