2,599 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 2,599 shares of the semiconductor manufacturer’s stock, valued at approximately $306,000.

Several other hedge funds also recently modified their holdings of MU. Revolve Wealth Partners LLC grew its stake in Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after buying an additional 98 shares during the last quarter. Sandy Spring Bank grew its position in shares of Micron Technology by 11.1% in the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after purchasing an additional 130 shares during the last quarter. First Affirmative Financial Network increased its stake in shares of Micron Technology by 4.7% in the first quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock worth $347,000 after purchasing an additional 131 shares during the period. HMS Capital Management LLC lifted its position in shares of Micron Technology by 0.7% during the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after purchasing an additional 138 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake in Micron Technology by 11.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock valued at $121,000 after purchasing an additional 140 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MU shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Friday, April 12th. Barclays upped their target price on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Raymond James boosted their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, TD Cowen upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $122.20.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.00, for a total value of $4,500,000.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares of the company’s stock, valued at $77,355,700. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the chief executive officer now owns 773,557 shares in the company, valued at $77,355,700. The disclosure for this sale can be found here. In the last 90 days, insiders sold 261,890 shares of company stock worth $29,129,527. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

Micron Technology stock traded down $1.40 during trading hours on Tuesday, hitting $112.96. 14,819,938 shares of the stock were exchanged, compared to its average volume of 20,418,855. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The business’s 50-day moving average is $107.28 and its two-hundred day moving average is $89.05. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock has a market capitalization of $125.09 billion, a P/E ratio of -32.74 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the company earned ($2.03) EPS. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. Equities research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued 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 was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

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.