Graypoint LLC Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Graypoint LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 10,738 shares of the semiconductor manufacturer’s stock after purchasing an additional 438 shares during the period. Graypoint LLC’s holdings in Micron Technology were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted 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 purchasing an additional 976 shares during the period. Bank Pictet & Cie Europe AG grew its stake in Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer’s stock valued at $7,214,000 after buying an additional 13,985 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Micron Technology by 74.7% in the 4th quarter. Proficio Capital Partners LLC now owns 4,056 shares of the semiconductor manufacturer’s stock valued at $341,000 after purchasing an additional 1,734 shares during the period. Evoke Wealth LLC lifted its holdings in shares of Micron Technology by 7.1% during the 4th quarter. Evoke Wealth LLC now owns 2,656 shares of the semiconductor manufacturer’s stock worth $224,000 after acquiring an additional 176 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Micron Technology during the 4th quarter worth about $2,602,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, EVP Sumit Sadana sold 92,638 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the completion of the transaction, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,446 shares of company stock worth $31,154,717. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MU shares. Susquehanna lifted their price target on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “positive” rating in a research report on Thursday, June 26th. Wall Street Zen raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. KeyCorp lifted their price target on shares of Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Micron Technology in a research note on Thursday, July 10th. They issued a “buy” rating and a $150.00 price target on the stock. Finally, Barclays lifted their price target on shares of Micron Technology from $95.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $146.44.

Micron Technology Stock Down 2.7%

Micron Technology stock opened at $113.26 on Friday. The firm has a fifty day moving average price of $110.82 and a two-hundred day moving average price of $96.72. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $129.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a market cap of $126.75 billion, a price-to-earnings ratio of 20.41 and a beta of 1.35.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Monday, July 7th. Micron Technology’s dividend payout ratio is 8.29%.

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.