Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Mainsail Financial Group LLC

Mainsail Financial Group LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 10.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 15,864 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,491 shares during the quarter. Micron Technology makes up approximately 0.8% of Mainsail Financial Group LLC’s portfolio, making the stock its 29th biggest position. Mainsail Financial Group LLC’s holdings in Micron Technology were worth $1,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Xcel Wealth Management LLC boosted its holdings in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 108 shares during the last quarter. Twin Capital Management Inc. boosted its holdings in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after purchasing an additional 108 shares during the last quarter. Cim Investment Management Inc. lifted its holdings in shares of Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock worth $1,941,000 after acquiring an additional 114 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock worth $883,000 after acquiring an additional 119 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 186,353 shares of the company’s stock, valued at $20,498,830. This trade represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,904 shares of company stock worth $4,665,124 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities 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 report on Saturday, May 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a research note on Wednesday, March 19th. Finally, Citigroup upped their target price on shares of Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.00.

Micron Technology Trading Up 2.9%

NASDAQ MU opened at $114.14 on Wednesday. The company has a market capitalization of $127.56 billion, a price-to-earnings ratio of 32.89 and a beta of 1.28. The firm’s fifty day moving average price is $85.21 and its 200 day moving average price is $92.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.42 EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

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.