Bruce G. Allen Investments LLC Buys 268 Shares of Micron Technology, Inc. (NASDAQ:MU)

Bruce G. Allen Investments LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 44.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 871 shares of the semiconductor manufacturer’s stock after buying an additional 268 shares during the period. Bruce G. Allen Investments LLC’s holdings in Micron Technology were worth $76,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Xcel Wealth Management LLC boosted its holdings in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after buying an additional 108 shares in the last quarter. Twin Capital Management Inc. boosted its stake in shares of Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock worth $1,688,000 after buying an additional 108 shares during the last quarter. Cim Investment Management Inc. boosted its stake in shares of Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock worth $1,941,000 after buying an additional 114 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Micron Technology by 1.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock valued at $883,000 after acquiring an additional 119 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business’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 transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now directly owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of several research analyst reports. Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a research report on Monday, April 28th. UBS Group boosted their price target on shares of Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Robert W. Baird upped their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. Finally, Citigroup decreased their price objective on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.20.

Micron Technology Stock Up 2.1%

Shares of NASDAQ MU opened at $108.56 on Monday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $83.97 and a 200-day moving average of $92.05. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.42%. Micron Technology’s payout ratio is 11.03%.

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.