Merit Financial Group LLC Raises Stake in Micron Technology, Inc. (NASDAQ:MU)

Merit Financial Group LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 22.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,475 shares of the semiconductor manufacturer’s stock after buying an additional 3,593 shares during the period. Merit Financial Group LLC’s holdings in Micron Technology were worth $1,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Baxter Bros Inc. purchased a new stake in shares of Micron Technology during the first quarter worth approximately $581,000. Harbor Investment Advisory LLC increased its position in shares of Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC increased its position in shares of Micron Technology by 306.1% during 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 in the last quarter. QV Investors Inc. increased its position in shares of Micron Technology by 41.6% during the first quarter. QV Investors Inc. now owns 18,335 shares of the semiconductor manufacturer’s stock worth $1,593,000 after purchasing an additional 5,385 shares in the last quarter. Finally, NBC Securities Inc. increased its position in shares of Micron Technology by 122,441.2% during the first quarter. NBC Securities Inc. now owns 20,832 shares of the semiconductor manufacturer’s stock worth $1,810,000 after purchasing an additional 20,815 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several research reports. Barclays dropped their price target on Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley dropped their price target on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Wedbush restated an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. Mizuho upped their target price on Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. Finally, China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $128.20.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares of the company’s stock, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 2.1%

MU opened at $108.56 on Friday. The business’s fifty day moving average is $83.97 and its two-hundred day moving average is $92.17. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market cap of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. Analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. Micron Technology’s dividend payout ratio (DPR) is 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.