PKO Investment Management Joint Stock Co Grows Position in Micron Technology, Inc. (NASDAQ:MU)

PKO Investment Management Joint Stock Co grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Micron Technology were worth $6,517,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $26,000. Beacon Capital Management LLC raised its stake in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $33,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $33,000. Finally, Curio Wealth LLC acquired a new position in Micron Technology in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $119.84 on Tuesday. The stock has a market cap of $133.93 billion, a PE ratio of 34.54 and a beta of 1.28. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The stock has a fifty day simple moving average of $89.28 and a 200-day simple moving average of $92.68.

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

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now owns 24,954 shares of the company’s stock, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mehrotra sold 3,938 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.88, for a total value of $436,645.44. Following the completion of the sale, the chief executive officer now directly owns 387,175 shares in the company, valued at $42,929,964. This represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,904 shares of company stock worth $4,665,124 in the last three months. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on MU shares. Wall Street Zen raised Micron Technology from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group increased their price objective on Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a research note on Monday, April 28th. Finally, Citigroup upped their target price on Micron Technology from $110.00 to $130.00 and gave the company a “buy” rating in a report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.