Butensky & Cohen Financial Security Inc. Purchases 521 Shares of Micron Technology, Inc. (NASDAQ:MU)

Butensky & Cohen Financial Security Inc. boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,017 shares of the semiconductor manufacturer’s stock after acquiring an additional 521 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in Micron Technology were worth $3,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Vanguard Group Inc. raised its position in shares of Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after buying an additional 888,087 shares during the last quarter. FMR LLC raised its position in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital World Investors raised its position in shares of Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Micron Technology by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock valued at $2,052,973,000 after buying an additional 726,282 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $1,470,875,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.1%

NASDAQ MU opened at $108.56 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $83.97 and a two-hundred day moving average of $92.17. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 dividend yield of 0.42%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Wednesday, March 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research report on Wednesday, March 19th. Finally, Morgan Stanley reduced their price target on shares of 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 research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.20.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 completion of the sale, the director now directly 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 through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.