Sargent Investment Group LLC Takes Position in Micron Technology, Inc. $MU

Sargent Investment Group LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MUFree Report) in the fourth quarter, Holdings Channel reports. The firm purchased 4,524 shares of the semiconductor manufacturer’s stock, valued at approximately $1,291,000.

A number of other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after acquiring an additional 976 shares during the period. Sivia Capital Partners LLC boosted its position in Micron Technology by 21.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after acquiring an additional 628 shares during the period. United Bank acquired a new position in Micron Technology during the 2nd quarter worth $236,000. Schnieders Capital Management LLC. boosted its position in Micron Technology by 67.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock worth $2,093,000 after acquiring an additional 6,867 shares during the period. Finally, Sei Investments Co. boosted its position in Micron Technology by 5.6% during the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock worth $49,987,000 after acquiring an additional 21,619 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Transactions at Micron Technology

In other news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 146,000 shares of company stock worth $85,486,715. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MU. Sanford C. Bernstein boosted their price target on Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Barclays boosted their price target on Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Erste Group Bank lowered Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Citigroup boosted their price target on Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Micron Technology in a research report on Tuesday, May 12th. Five research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $737.63.

Read Our Latest Stock Report on MU

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $981.61 on Monday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 46.35 and a beta of 2.15. The business has a fifty day simple moving average of $677.58 and a 200-day simple moving average of $465.20. Micron Technology, Inc. has a fifty-two week low of $103.38 and a fifty-two week high of $1,089.29.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating the consensus estimate of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to analyst estimates of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The company’s revenue was up 196 on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.56 earnings per share. On average, equities analysts forecast that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. Micron Technology’s payout ratio is currently 2.83%.

Key Micron Technology News

Here are the key news stories impacting Micron Technology this week:

Micron Technology Profile

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

See Also

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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