Everhart Financial Group Inc. Has $581,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Everhart Financial Group Inc. increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 24.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,682 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,326 shares during the period. Everhart Financial Group Inc.’s holdings in Micron Technology were worth $581,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MU. Xcel Wealth Management LLC raised its position in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after acquiring an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after acquiring an additional 108 shares during the last quarter. Twin Capital Management Inc. increased its position in Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after purchasing an additional 108 shares during the period. Cim Investment Management Inc. raised its holdings in Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock worth $1,941,000 after purchasing an additional 114 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in Micron Technology by 1.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock worth $883,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MU shares. Mizuho increased their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, June 5th. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Rosenblatt Securities lowered their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Robert W. Baird boosted their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. Finally, UBS Group upped their target price on Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,904 shares of company stock valued at $4,665,124 in the last ninety days. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $115.60 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a 50-day moving average of $88.20 and a 200-day moving average of $92.60. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The company has a market cap of $129.19 billion, a P/E ratio of 33.31 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

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.