Banque Cantonale Vaudoise Acquires New Shares in Micron Technology, Inc. (NASDAQ:MU)

Banque Cantonale Vaudoise bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, Holdings Channel reports. The institutional investor bought 17,603 shares of the semiconductor manufacturer’s stock, valued at approximately $1,530,000.

Other hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the first quarter valued at approximately $33,000. AllSquare Wealth Management LLC boosted its position in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Micron Technology during the first quarter valued at approximately $36,000. Finally, Hurley Capital LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $37,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 2.5%

Shares of NASDAQ:MU opened at $114.74 on Thursday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85. The business has a 50 day simple moving average of $113.85 and a two-hundred day simple moving average of $97.84. The firm has a market capitalization of $128.41 billion, a PE ratio of 20.67 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s payout ratio is presently 8.29%.

Insider Buying and Selling at Micron Technology

In other news, CFO Mark J. Murphy sold 34,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president directly owned 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 288,446 shares of company stock valued at $34,871,597. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MU shares. Robert W. Baird lifted their price target on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. Barclays lifted their price target on Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. Mizuho boosted their target price on Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, June 5th. Needham & Company LLC boosted their target price on Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. boosted their target price on Micron Technology from $135.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.44.

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.