Tounjian Advisory Partners LLC Buys Shares of 23,396 Micron Technology, Inc. (NASDAQ:MU)

Tounjian Advisory Partners LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,396 shares of the semiconductor manufacturer’s stock, valued at approximately $2,033,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Xcel Wealth Management LLC raised its stake in Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after acquiring an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Micron Technology by 3.8% in the 4th 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 buying an additional 108 shares during the period. Twin Capital Management Inc. increased its stake in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after buying an additional 108 shares during the period. Cim Investment Management Inc. raised its position 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 buying an additional 114 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock worth $883,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated 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 transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Mizuho raised their target price on Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research report on Wednesday, March 26th. Citigroup cut their price target on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $128.20.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $108.56 on Monday. The business has a fifty day simple moving average of $83.97 and a 200-day simple moving average of $92.05. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The company has a market cap of $121.32 billion, a P/E ratio of 31.29 and a beta of 1.28. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

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.