Migdal Insurance & Financial Holdings Ltd. Reduces Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Migdal Insurance & Financial Holdings Ltd. lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 42.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,285 shares of the semiconductor manufacturer’s stock after selling 125,808 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Micron Technology were worth $14,656,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in Micron Technology in the first quarter valued at about $33,000. Hurley Capital LLC purchased a new position in Micron Technology in the fourth quarter valued at about $37,000. Roxbury Financial LLC increased its holdings in 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 buying an additional 300 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in 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 buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MU shares. Mizuho raised their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. Cantor Fitzgerald lifted their target price on shares of Micron Technology from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, June 26th. Raymond James Financial boosted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, June 26th. Susquehanna boosted their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Micron Technology in a research note on Thursday, July 10th. They set a “buy” rating and a $150.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.44.

Micron Technology Trading Up 0.5%

Shares of NASDAQ:MU traded up $0.58 during mid-day trading on Friday, hitting $113.84. The stock had a trading volume of 2,359,986 shares, compared to its average volume of 23,278,354. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The company has a market cap of $127.40 billion, a PE ratio of 20.54 and a beta of 1.35. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. The company’s 50 day moving average is $110.82 and its 200-day moving average is $96.72.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the prior year, the business earned $0.62 EPS. On average, sell-side 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 issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology’s payout ratio is presently 8.29%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the business’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, the executive vice president owned 201,326 shares of the company’s stock, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated 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 of the company’s stock, valued at $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,446 shares of company stock worth $31,154,717 in the last ninety days. Company insiders own 0.30% 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.