Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Norden Group LLC

Norden Group LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1,916.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,134 shares of the semiconductor manufacturer’s stock after acquiring an additional 47,648 shares during the quarter. Norden Group LLC’s holdings in Micron Technology were worth $5,910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Revolve Wealth Partners LLC boosted its position in shares of Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after acquiring an additional 98 shares during the last quarter. Sandy Spring Bank lifted its position in Micron Technology by 11.1% in the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after buying an additional 130 shares during the last quarter. First Affirmative Financial Network lifted its position in Micron Technology by 4.7% in the first quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock valued at $347,000 after buying an additional 131 shares during the last quarter. HMS Capital Management LLC lifted its position in Micron Technology by 0.7% in the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after buying an additional 138 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in Micron Technology by 11.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock valued at $121,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 3.2 %

MU stock opened at $136.82 on Friday. The firm has a market capitalization of $151.71 billion, a price-to-earnings ratio of -96.35 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The company’s 50 day moving average price is $129.42 and its 200 day moving average price is $107.38.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue was up 81.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.57) earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be paid a $0.115 dividend. The ex-dividend date is Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.34%. Micron Technology’s dividend payout ratio is currently -32.39%.

Analyst Ratings Changes

MU has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, March 21st. Cantor Fitzgerald upped their target price on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.52.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total value of $858,200.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $89,321,088.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $122.60, for a total transaction of $858,200.00. Following the transaction, the chief executive officer now directly owns 728,557 shares in the company, valued at $89,321,088.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the transaction, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold 257,730 shares of company stock worth $31,921,649 over the last three months. Insiders own 0.32% of the company’s stock.

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.