Courier Capital LLC Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Courier Capital LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,015 shares of the semiconductor manufacturer’s stock after purchasing an additional 500 shares during the period. Courier Capital LLC’s holdings in Micron Technology were worth $1,063,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. TCW Group Inc. lifted its stake in shares of Micron Technology by 5.7% in the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after acquiring an additional 28,649 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of Micron Technology by 6.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after acquiring an additional 5,958 shares during the last quarter. Savoie Capital LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at about $4,229,000. TrinityPoint Wealth LLC lifted its stake in shares of Micron Technology by 33.9% in the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after acquiring an additional 8,736 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in Micron Technology by 176.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock valued at $1,349,000 after purchasing an additional 10,096 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $109,496,781.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $109,496,781.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sumit Sadana sold 12,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $123.01, for a total value of $1,476,120.00. Following the completion of the sale, the executive vice president now owns 218,048 shares of the company’s stock, valued at $26,822,084.48. The disclosure for this sale can be found here. Insiders have sold 304,840 shares of company stock valued at $37,961,924 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

MU stock opened at $131.53 on Friday. The stock’s 50 day simple moving average is $128.07 and its 200 day simple moving average is $106.08. The stock has a market capitalization of $145.65 billion, a PE ratio of -92.63 and a beta of 1.21. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.03% and a negative net margin of 7.20%. The company’s revenue was up 81.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.57) EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 0.35 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.35%. Micron Technology’s payout ratio is -32.39%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MU shares. Robert W. Baird boosted their price target on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Piper Sandler boosted their price target on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday. Susquehanna boosted their price target on Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a report on Monday, June 17th. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price target on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $158.52.

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.