Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Roxbury Financial LLC

Roxbury Financial LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 306.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 398 shares of the semiconductor manufacturer’s stock after buying an additional 300 shares during the period. Roxbury Financial LLC’s holdings in Micron Technology were worth $37,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MU. Brighton Jones LLC grew its stake in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after acquiring an additional 976 shares in the last quarter. OLD National Bancorp IN boosted its holdings in shares of Micron Technology by 18.3% during the 4th quarter. OLD National Bancorp IN now owns 5,587 shares of the semiconductor manufacturer’s stock worth $470,000 after purchasing an additional 866 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of Micron Technology in the fourth quarter valued at approximately $59,000. Heck Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $215,000. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of Micron Technology by 2.1% in the fourth quarter. Chicago Partners Investment Group LLC now owns 9,366 shares of the semiconductor manufacturer’s stock valued at $788,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MU. Citigroup dropped their target price on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a report on Wednesday, March 19th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. Barclays decreased their target price on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities cut their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $126.48.

Micron Technology Price Performance

MU stock opened at $94.42 on Monday. The business’s fifty day moving average price is $82.55 and its 200 day moving average price is $91.87. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $105.52 billion, a PE ratio of 27.21 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) 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 firm earned $0.42 earnings per share. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.115 per share. 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 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

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.