Diversified Trust Co Buys 263 Shares of Micron Technology, Inc. (NASDAQ:MU)

Diversified Trust Co lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 5.4% in the 1st quarter, HoldingsChannel reports. The fund owned 5,100 shares of the semiconductor manufacturer’s stock after purchasing an additional 263 shares during the quarter. Diversified Trust Co’s holdings in Micron Technology were worth $443,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MU. Sunbeam Capital Management LLC purchased a new stake in Micron Technology during the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the first quarter worth $33,000. Curio Wealth LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $34,000. Hurley Capital LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at $37,000. Finally, Roxbury Financial LLC boosted its position in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Down 1.2%

MU stock opened at $123.25 on Tuesday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $137.13. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $137.93 billion, a P/E ratio of 22.21 and a beta of 1.28. The company’s 50-day simple moving average is $99.84 and its 200-day simple moving average is $94.30.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $8.83 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced 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 of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director owned 24,954 shares of the company’s stock, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mehrotra sold 5,210 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total transaction of $632,233.50. Following the transaction, the chief executive officer owned 379,675 shares of the company’s stock, valued at approximately $46,073,561.25. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,404 shares of company stock worth $8,509,167 over the last 90 days. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MU. Royal Bank Of Canada set a $125.00 target price on Micron Technology in a research report on Wednesday, March 19th. UBS Group upped their price objective on shares of Micron Technology from $120.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, June 26th. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Wednesday, March 26th. Wedbush boosted their target price on shares of Micron Technology from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, June 26th. Finally, Mizuho raised their price target on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, June 5th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.21.

About Micron Technology

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.