DE Burlo Group Inc. Has $28.35 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

DE Burlo Group Inc. trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 326,260 shares of the semiconductor manufacturer’s stock after selling 26,965 shares during the quarter. Micron Technology comprises about 4.2% of DE Burlo Group Inc.’s investment portfolio, making the stock its 6th largest holding. DE Burlo Group Inc.’s holdings in Micron Technology were worth $28,349,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new position in Micron Technology in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology during the 1st quarter worth $33,000. Roxbury Financial LLC increased its position 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 worth $37,000 after purchasing an additional 300 shares during the period. AllSquare Wealth Management LLC raised its stake in 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 purchasing an additional 200 shares in the last quarter. Finally, Hurley Capital LLC acquired a new position in Micron Technology in the fourth quarter valued at about $37,000. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven J. Gomo sold 7,000 shares of the business’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the transaction, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. This represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,446 shares of company stock worth $34,871,597. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 0.4%

Shares of MU opened at $111.26 on Friday. The stock’s 50-day moving average price is $112.94 and its two-hundred day moving average price is $97.56. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $129.85. The company has a market capitalization of $124.51 billion, a PE ratio of 20.05 and a beta of 1.35. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period last year, the company earned $0.62 earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is currently 8.29%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MU. Susquehanna increased their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “positive” rating in a research note on Thursday, June 26th. KeyCorp increased their price target on shares of Micron Technology from $135.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Piper Sandler lifted their price objective on shares of Micron Technology from $120.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. Wells Fargo & Company upped their target price on Micron Technology from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. raised their target price on Micron Technology from $135.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average 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.