Bourgeon Capital Management LLC Boosts Position in Micron Technology, Inc. (NASDAQ:MU)

Bourgeon Capital Management LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 54.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 103,971 shares of the semiconductor manufacturer’s stock after acquiring an additional 36,459 shares during the quarter. Micron Technology comprises approximately 1.9% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Bourgeon Capital Management LLC’s holdings in Micron Technology were worth $9,034,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. HBW Advisory Services LLC purchased a new stake in Micron Technology during the first quarter worth approximately $281,000. Merit Financial Group LLC lifted its stake in Micron Technology by 22.6% in the first quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer’s stock valued at $1,692,000 after buying an additional 3,593 shares during the last quarter. Baxter Bros Inc. purchased a new stake in Micron Technology in the first quarter valued at approximately $581,000. Harbor Investment Advisory LLC boosted its holdings in shares of Micron Technology by 240.0% in the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 300 shares during the period. Finally, Roxbury Financial LLC boosted its holdings in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 3.9%

NASDAQ:MU opened at $98.18 on Tuesday. The stock has a fifty day moving average price of $82.67 and a two-hundred day moving average price of $91.88. The stock has a market capitalization of $109.72 billion, a price-to-earnings ratio of 28.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s payout ratio is 11.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Robert W. Baird increased their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Wedbush reissued an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Finally, Rosenblatt Securities decreased their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $126.48.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

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.