Bamco Inc. NY Purchases 2,568 Shares of Micron Technology, Inc. (NASDAQ:MU)

Bamco Inc. NY increased its position in Micron Technology, Inc. (NASDAQ:MU) by 157.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,200 shares of the semiconductor manufacturer’s stock after buying an additional 2,568 shares during the period. Bamco Inc. NY’s holdings in Micron Technology were worth $495,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MU. Tidemark LLC bought a new position in shares of Micron Technology during the 4th quarter valued at about $25,000. DecisionPoint Financial LLC bought a new position in shares of Micron Technology during the 1st quarter valued at about $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology during the 4th quarter valued at about $26,000. Frank Rimerman Advisors LLC bought a new position in shares of Micron Technology during the 4th quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $114.87, for a total transaction of $804,090.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $82,597,158.63. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the sale, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $114.87, for a total transaction of $804,090.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $82,597,158.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,730 shares of company stock worth $29,435,039. 0.32% of the stock is currently owned by insiders.

Micron Technology Price Performance

NASDAQ MU traded down $1.28 during trading hours on Monday, hitting $108.13. 8,121,289 shares of the company’s stock traded hands, compared to its average volume of 20,927,814. Micron Technology, Inc. has a 52-week low of $61.75 and a 52-week high of $157.54. The company has a market capitalization of $119.90 billion, a PE ratio of -76.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The firm’s 50-day moving average is $131.01 and its 200-day moving average is $112.25.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the company posted ($1.57) EPS. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. Equities analysts forecast that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is currently -32.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MU shares. Morgan Stanley upped their target price on shares of Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. Robert W. Baird upped their target price on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Barclays upped their target price on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Mizuho upped their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.72.

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.