Buffington Mohr McNeal Purchases 933 Shares of Micron Technology, Inc. (NASDAQ:MU)

Buffington Mohr McNeal increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,983 shares of the semiconductor manufacturer’s stock after purchasing an additional 933 shares during the quarter. Buffington Mohr McNeal’s holdings in Micron Technology were worth $4,082,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after purchasing an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer’s stock valued at $7,214,000 after buying an additional 13,985 shares during the last quarter. Norden Group LLC lifted its position in Micron Technology by 7.9% during the 4th quarter. Norden Group LLC now owns 4,431 shares of the semiconductor manufacturer’s stock worth $373,000 after buying an additional 324 shares in the last quarter. Modera Wealth Management LLC grew its holdings in Micron Technology by 13.5% during the 4th quarter. Modera Wealth Management LLC now owns 4,647 shares of the semiconductor manufacturer’s stock worth $391,000 after acquiring an additional 554 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Micron Technology by 85.2% during the 4th quarter. Jones Financial Companies Lllp now owns 34,794 shares of the semiconductor manufacturer’s stock worth $2,928,000 after acquiring an additional 16,008 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Manish H. Bhatia sold 80,000 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares in the company, valued at $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,042 shares of company stock valued at $30,863,160 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $121.74 on Thursday. The stock’s fifty day simple moving average is $101.83 and its 200 day simple moving average is $94.67. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $136.24 billion, a PE ratio of 21.94 and a beta of 1.35. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $137.13.

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

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology’s dividend payout ratio is currently 11.03%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MU. TD Cowen boosted their target price on shares of Micron Technology from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. Morgan Stanley boosted their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Barclays boosted their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Wedbush upped their price objective on Micron Technology from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, June 26th. Finally, Bank of America boosted their target price on Micron Technology from $84.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $146.21.

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.