PDS Planning Inc Acquires 656 Shares of Micron Technology, Inc. (NASDAQ:MU)

PDS Planning Inc increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 14.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,076 shares of the semiconductor manufacturer’s stock after purchasing an additional 656 shares during the quarter. PDS Planning Inc’s holdings in Micron Technology were worth $441,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Co. Ltd. grew its stake in shares of Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after acquiring an additional 8,780 shares during the period. CIBC Private Wealth Group LLC increased its stake in Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after acquiring an additional 4,264 shares during the last quarter. Landscape Capital Management L.L.C. increased its position in Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock worth $3,851,000 after purchasing an additional 28,621 shares during the last quarter. Duquesne Family Office LLC purchased a new stake in Micron Technology during the fourth quarter valued at approximately $34,412,000. Finally, Janus Henderson Group PLC increased its position in Micron Technology by 74.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock valued at $222,779,000 after acquiring an additional 1,130,680 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

NASDAQ:MU opened at $126.00 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $97.59 and its 200-day moving average price is $94.05. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $137.39. The company has a market cap of $140.81 billion, a P/E ratio of 22.70 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology’s payout ratio is 11.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MU shares. Morgan Stanley raised their target price on shares of Micron Technology from $98.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday. Susquehanna increased their target price on Micron Technology from $150.00 to $160.00 and gave the company a “positive” rating in a research report on Thursday. Robert W. Baird boosted their price target on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Royal Bank Of Canada set a $125.00 target price on shares of Micron Technology in a research report on Wednesday, March 19th. Finally, TD Cowen increased their price target on Micron Technology from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Insider Buying and Selling at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated 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 sale, the executive vice president now owns 186,353 shares in the company, valued at approximately $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The transaction 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 business’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 value of $192,320.00. Following the completion of the sale, the director now 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. Insiders sold 72,404 shares of company stock valued at $8,509,167 in the last 90 days. Company insiders own 0.30% of the company’s stock.

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.