Micron Technology, Inc. (NASDAQ:MU) Holdings Trimmed by Investment Partners Asset Management Inc.

Investment Partners Asset Management Inc. reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,108 shares of the semiconductor manufacturer’s stock after selling 263 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in Micron Technology were worth $444,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MU. Sunbeam Capital Management LLC acquired a new position in Micron Technology in the 4th quarter worth about $26,000. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $33,000. Roxbury Financial LLC increased its holdings in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after buying an additional 300 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Micron Technology in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 3,562 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.46, for a total transaction of $393,458.52. Following the transaction, the chief executive officer now directly owns 391,113 shares in the company, valued at approximately $43,202,341.98. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,904 shares of company stock valued at $4,665,124. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $114.14 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business’s fifty day moving average price is $85.21 and its two-hundred day moving average price is $92.26. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The stock has a market capitalization of $127.56 billion, a price-to-earnings ratio of 32.89 and a beta of 1.28.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s dividend payout ratio is 11.03%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MU shares. Wall Street Zen lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Morgan Stanley decreased their price objective on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. UBS Group raised their target price on shares of Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Finally, Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

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.