3,763 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Bell Bank

Bell Bank bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 3,763 shares of the semiconductor manufacturer’s stock, valued at approximately $327,000.

A number of other hedge funds have also recently bought and sold shares of MU. E Fund Management Co. Ltd. increased its position in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after purchasing an additional 8,780 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after buying an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. increased its holdings in 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 period. Duquesne Family Office LLC bought a new stake in Micron Technology in the 4th quarter valued at $34,412,000. Finally, Janus Henderson Group PLC raised its stake 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 in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 3,938 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.88, for a total value of $436,645.44. Following the sale, the chief executive officer now directly owns 387,175 shares in the company, valued at approximately $42,929,964. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last quarter, 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.

Micron Technology Trading Up 0.4%

Shares of NASDAQ MU opened at $120.34 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The firm has a market capitalization of $134.49 billion, a P/E ratio of 28.86 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99. The company’s 50 day simple moving average is $90.13 and its 200 day simple moving average is $92.87.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. On average, analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MU. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a research report on Monday, April 28th. Robert W. Baird lifted their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley lowered their price target on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $129.00.

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.