Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Capital Investment Advisors LLC

Capital Investment Advisors LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 17.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,429 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,112 shares during the quarter. Capital Investment Advisors LLC’s holdings in Micron Technology were worth $645,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC lifted its position in Micron Technology by 17.4% in the 1st quarter. Park Avenue Securities LLC now owns 30,191 shares of the semiconductor manufacturer’s stock valued at $2,623,000 after purchasing an additional 4,480 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in Micron Technology by 36.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,104 shares of the semiconductor manufacturer’s stock valued at $357,000 after purchasing an additional 1,102 shares during the last quarter. Wedmont Private Capital lifted its position in Micron Technology by 3.0% in the 1st quarter. Wedmont Private Capital now owns 13,766 shares of the semiconductor manufacturer’s stock valued at $1,196,000 after purchasing an additional 397 shares during the last quarter. Regent Peak Wealth Advisors LLC bought a new stake in Micron Technology in the 1st quarter valued at about $205,000. Finally, TB Alternative Assets Ltd. lifted its position in Micron Technology by 331.3% in the 1st quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer’s stock valued at $6,933,000 after purchasing an additional 61,288 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MU has been the topic of several recent research reports. Rosenblatt Securities cut their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. dropped their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Robert W. Baird boosted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Wedbush restated an “underperform” rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $129.00.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 3,938 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.88, for a total transaction of $436,645.44. Following the completion of the sale, the chief executive officer now owns 387,175 shares of the company’s stock, valued at $42,929,964. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 44,904 shares of company stock worth $4,665,124. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Trading Up 2.9%

MU stock opened at $114.14 on Wednesday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The stock has a market cap of $127.56 billion, a price-to-earnings ratio of 32.89 and a beta of 1.28. The company has a fifty day moving average price of $85.21 and a two-hundred day moving average price of $92.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 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 firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is presently 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.