Greenleaf Trust Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Greenleaf Trust lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.7% in the first quarter, HoldingsChannel reports. The firm owned 33,268 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,493 shares during the quarter. Greenleaf Trust’s holdings in Micron Technology were worth $2,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sunbeam Capital Management LLC purchased a new stake in Micron Technology during the 4th quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology in the 1st quarter valued at about $33,000. Curio Wealth LLC acquired a new position in Micron Technology in the 4th quarter valued at about $34,000. Hurley Capital LLC acquired a new position in Micron Technology in the 4th quarter valued at about $37,000. Finally, Roxbury Financial LLC increased its position in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 300 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. Wedbush boosted their target price on Micron Technology from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, June 26th. Morgan Stanley upped their target price on Micron Technology from $98.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Royal Bank Of Canada set a $125.00 price target on Micron Technology in a report on Wednesday, March 19th. Stifel Nicolaus upped their price objective on Micron Technology from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. Finally, TD Cowen upped their price objective on Micron Technology from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.21.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total value of $291,557.12. Following the completion of the transaction, the director owned 22,550 shares of the company’s stock, valued at approximately $2,734,864. This trade represents a 9.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the sale, the executive vice president directly owned 148,167 shares of the company’s stock, valued at $18,538,655.04. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,446 shares of company stock valued at $31,154,717 in the last ninety days. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $122.24 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $106.25 and its two-hundred day moving average price is $95.45. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $136.50. The stock has a market capitalization of $136.80 billion, a P/E ratio of 22.03 and a beta of 1.35.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the business earned $0.62 earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be 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 is Monday, July 7th. Micron Technology’s payout ratio is 8.29%.

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.