Micron Technology, Inc. (NASDAQ:MU) Stake Boosted by First Washington CORP

First Washington CORP increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 19.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,117 shares of the semiconductor manufacturer's stock after buying an additional 7,155 shares during the period. First Washington CORP's holdings in Micron Technology were worth $3,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Beacon Capital Management LLC grew its stake in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $33,000. Activest Wealth Management grew its position in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $34,000. Finally, Curio Wealth LLC acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 4.8 %

Shares of Micron Technology stock traded up $3.35 during trading hours on Wednesday, hitting $73.56. The company's stock had a trading volume of 16,492,080 shares, compared to its average volume of 23,194,525. The business has a fifty day moving average of $87.22 and a 200 day moving average of $95.43. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $82.21 billion, a PE ratio of 21.20 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data 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 return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company posted $0.42 earnings per share. The firm's revenue was up 38.2% compared to the same quarter last year. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MU shares. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Morgan Stanley increased their price objective on Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Barclays decreased their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Citigroup cut their price objective on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average target price of $128.56.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.