Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Ballast Inc.

Ballast Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 1.5% in the 1st quarter, Holdings Channel reports. The fund owned 12,629 shares of the semiconductor manufacturer’s stock after purchasing an additional 182 shares during the period. Ballast Inc.’s holdings in Micron Technology were worth $1,097,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MU. Brighton Jones LLC lifted its stake in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after buying an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer’s stock worth $7,214,000 after purchasing an additional 13,985 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Micron Technology by 40.1% during the fourth quarter. Bessemer Group Inc. now owns 18,447 shares of the semiconductor manufacturer’s stock valued at $1,552,000 after purchasing an additional 5,276 shares during the period. Townsquare Capital LLC lifted its stake in Micron Technology by 12.9% in the fourth quarter. Townsquare Capital LLC now owns 23,494 shares of the semiconductor manufacturer’s stock valued at $1,977,000 after buying an additional 2,683 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new position in Micron Technology in the fourth quarter valued at about $479,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. Piper Sandler increased their target price on Micron Technology from $120.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. Susquehanna raised their price target on Micron Technology from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Thursday, June 26th. Cantor Fitzgerald raised their price target on Micron Technology from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. Wall Street Zen upgraded Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Finally, Barclays upped their target price on Micron Technology from $95.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.44.

Micron Technology Stock Performance

Micron Technology stock opened at $118.89 on Monday. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $133.05 billion, a P/E ratio of 21.42 and a beta of 1.37. The stock’s 50 day moving average is $115.95 and its 200 day moving average is $98.07. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $0.62 EPS. On average, 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 declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s payout ratio is currently 8.29%.

Insider Activity

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the company’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares of the company’s stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 286,042 shares of company stock valued at $34,679,277. Insiders own 0.30% of the company’s stock.

About Micron Technology

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.