Parsons Capital Management Inc. RI Buys 814 Shares of Micron Technology, Inc. (NASDAQ:MU)

Parsons Capital Management Inc. RI grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 33.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,218 shares of the semiconductor manufacturer’s stock after purchasing an additional 814 shares during the period. Parsons Capital Management Inc. RI’s holdings in Micron Technology were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Micron Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock valued at $8,106,001,000 after purchasing an additional 755,588 shares during the period. Sanders Capital LLC grew its position in Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after acquiring an additional 503,923 shares during the last quarter. FMR LLC grew its position in Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP grew its position in Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares during the last quarter. Finally, Morgan Stanley grew its position in Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after acquiring an additional 2,852,688 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 2.9 %

MU stock traded up $3.26 during trading hours on Friday, reaching $114.84. 20,612,299 shares of the stock were exchanged, compared to its average volume of 24,401,036. The firm’s 50-day moving average is $105.94 and its 200-day moving average is $88.43. The company has a market cap of $127.17 billion, a price-to-earnings ratio of -33.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same quarter last year, the company earned ($2.03) EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Analyst Ratings Changes

MU has been the topic of a number of research analyst reports. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Raymond James upped their price objective on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Wedbush upped their price objective on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a report on Thursday, April 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $66,901,175.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $66,901,175.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated 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 owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 268,890 shares of company stock worth $29,738,667 in the last quarter. Corporate insiders own 0.32% 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.