Clearbridge Investments LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Clearbridge Investments LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,931,811 shares of the semiconductor manufacturer's stock after buying an additional 20,741 shares during the quarter. Clearbridge Investments LLC owned about 0.17% of Micron Technology worth $227,741,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC raised its holdings in shares of Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer's stock valued at $776,000 after buying an additional 98 shares during the last quarter. Retirement Group LLC boosted its holdings in Micron Technology by 37.3% during the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer's stock worth $43,000 after buying an additional 100 shares in the last quarter. AIA Group Ltd grew its position in Micron Technology by 2.1% during the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer's stock worth $568,000 after buying an additional 101 shares during the period. Manchester Capital Management LLC increased its holdings in Micron Technology by 5.2% in the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer's stock valued at $250,000 after buying an additional 104 shares in the last quarter. Finally, Premier Path Wealth Partners LLC increased its holdings in Micron Technology by 3.1% in the first quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer's stock valued at $493,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Down 0.9 %

NASDAQ MU traded down $1.03 on Tuesday, reaching $114.25. The company had a trading volume of 14,529,483 shares, compared to its average volume of 20,948,502. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a 1 year low of $61.75 and a 1 year high of $157.54. The firm has a 50-day moving average of $132.09 and a 200-day moving average of $111.71. The firm has a market capitalization of $126.68 billion, a PE ratio of -80.46 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm's revenue was up 81.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.57) EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. Micron Technology's dividend payout ratio (DPR) is -32.39%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MU shares. Bank of America lifted their price target on Micron Technology from $144.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, June 17th. TD Cowen upped their price target on shares of Micron Technology from $150.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, June 27th. JPMorgan Chase & Co. raised their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Thursday, June 27th. Wedbush reiterated an "outperform" rating and set a $170.00 target price on shares of Micron Technology in a report on Thursday, June 27th. Finally, KeyCorp boosted their price target on Micron Technology from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $158.72.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $114.87, for a total transaction of $804,090.00. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at $82,597,158.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business's stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $114.87, for a total transaction of $804,090.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $82,597,158.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now directly owns 158,617 shares in the company, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders sold a total of 236,730 shares of company stock valued at $29,435,039 in the last ninety days. Corporate insiders own 0.32% of the company's stock.

Micron Technology Company 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.

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