Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Raised by Intellectus Partners LLC

Intellectus Partners LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,071 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,238 shares during the period. Micron Technology accounts for about 1.5% of Intellectus Partners LLC’s holdings, making the stock its 8th biggest position. Intellectus Partners LLC’s holdings in Micron Technology were worth $6,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Xcel Wealth Management LLC grew its position in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after buying an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after buying an additional 108 shares during the period. Twin Capital Management Inc. grew its position in Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after buying an additional 108 shares during the period. Cim Investment Management Inc. grew its position in Micron Technology by 0.5% during the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock valued at $1,941,000 after buying an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its position in Micron Technology by 1.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock valued at $883,000 after buying an additional 119 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $106.29 on Friday. The company has a market cap of $118.79 billion, a price-to-earnings ratio of 30.63 and a beta of 1.21. The firm’s fifty day moving average is $83.57 and its 200 day moving average is $92.09. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

Analysts Set New Price Targets

Several analysts recently issued reports on MU shares. Rosenblatt Securities cut their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Robert W. Baird boosted their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. UBS Group lifted their price target on shares of Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a report on Thursday. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $128.20.

Insider Activity at Micron Technology

In other Micron Technology news, 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 transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

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.