MV Capital Management Inc. Has $3.35 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

MV Capital Management Inc. lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,371 shares of the semiconductor manufacturer’s stock after selling 4,562 shares during the quarter. MV Capital Management Inc.’s holdings in Micron Technology were worth $3,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MU. Deepwater Asset Management LLC acquired a new position in shares of Micron Technology in the first quarter valued at approximately $1,691,000. Allspring Global Investments Holdings LLC grew its position in shares of Micron Technology by 88.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 482,031 shares of the semiconductor manufacturer’s stock valued at $56,827,000 after purchasing an additional 226,191 shares during the last quarter. WESPAC Advisors SoCal LLC bought a new stake in shares of Micron Technology in the first quarter valued at approximately $230,000. Oliver Luxxe Assets LLC bought a new stake in shares of Micron Technology in the first quarter valued at approximately $6,685,000. Finally, Breakwater Capital Group bought a new stake in shares of Micron Technology in the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,730 shares of company stock worth $37,771,649. 0.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on MU. Stifel Nicolaus boosted their price target on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley upped their target price on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. KeyCorp upped their target price on Micron Technology from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. UBS Group cut their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Finally, Needham & Company LLC upped their target price on Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Micron Technology Price Performance

Shares of NASDAQ MU traded up $1.07 during mid-day trading on Tuesday, reaching $132.59. 19,353,754 shares of the company were exchanged, compared to its average volume of 20,760,398. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $147.02 billion, a PE ratio of -93.20 and a beta of 1.18. The company’s 50 day moving average price is $128.51 and its 200 day moving average price is $106.81.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the company earned ($1.57) earnings per share. The company’s revenue for the quarter was up 81.5% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 0.39 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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.