5,715 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Romano Brothers AND Company

Romano Brothers AND Company acquired a new position in Micron Technology, Inc. (NASDAQ:MU) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,715 shares of the semiconductor manufacturer’s stock, valued at approximately $497,000.

Several other hedge funds also recently modified their holdings of MU. Bourgeon Capital Management LLC increased its position in Micron Technology by 54.0% during the first quarter. Bourgeon Capital Management LLC now owns 103,971 shares of the semiconductor manufacturer’s stock worth $9,034,000 after buying an additional 36,459 shares during the last quarter. HBW Advisory Services LLC acquired a new position in shares of Micron Technology during the 1st quarter valued at about $281,000. Merit Financial Group LLC increased its holdings in shares of Micron Technology by 22.6% during the 1st quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer’s stock valued at $1,692,000 after acquiring an additional 3,593 shares during the last quarter. Baxter Bros Inc. acquired a new position in shares of Micron Technology during the 1st quarter valued at about $581,000. Finally, Harbor Investment Advisory LLC grew its holdings in Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MU. JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Robert W. Baird boosted their price target on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. Barclays reduced their price objective on Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. Finally, Morgan Stanley lowered their price target on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $126.48.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 4.1%

MU opened at $102.25 on Wednesday. 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, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a market cap of $114.27 billion, a P/E ratio of 29.47 and a beta of 1.21. The company’s 50 day moving average is $82.89 and its 200-day moving average is $91.96.

Micron Technology (NASDAQ:MU) last released its earnings results 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 net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is currently 11.03%.

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.