Mainsail Financial Group LLC Has $1.38 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Mainsail Financial Group LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,864 shares of the semiconductor manufacturer’s stock after buying an additional 1,491 shares during the period. Micron Technology comprises about 0.8% of Mainsail Financial Group LLC’s portfolio, making the stock its 29th biggest holding. Mainsail Financial Group LLC’s holdings in Micron Technology were worth $1,378,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. E Fund Management Co. Ltd. grew its position in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after buying an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock valued at $1,193,000 after buying an additional 4,264 shares during the last quarter. Landscape Capital Management L.L.C. grew its position in shares of Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after buying an additional 28,621 shares during the last quarter. Duquesne Family Office LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at about $34,412,000. Finally, Janus Henderson Group PLC grew its position in shares of Micron Technology by 74.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock valued at $222,779,000 after buying an additional 1,130,680 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $114.14 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The firm has a market capitalization of $127.56 billion, a P/E ratio of 32.89 and a beta of 1.28. The company’s 50-day moving average is $85.21 and its 200 day moving average is $92.26.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the transaction, the executive vice president now owns 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,904 shares of company stock valued at $4,665,124. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MU has been the topic of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Robert W. Baird upped their price target on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research note on Wednesday, March 19th. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Finally, Rosenblatt Securities dropped their price target on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.00.

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.