Hexagon Capital Partners LLC Sells 359 Shares of Micron Technology, Inc. (NASDAQ:MU)

Hexagon Capital Partners LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 18.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,572 shares of the semiconductor manufacturer’s stock after selling 359 shares during the period. Hexagon Capital Partners LLC’s holdings in Micron Technology were worth $185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Micron Technology in the fourth quarter worth $769,372,000. Wellington Management Group LLP lifted its holdings in Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after buying an additional 5,257,201 shares in the last quarter. Morgan Stanley boosted its holdings in Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after acquiring an additional 2,852,688 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Micron Technology by 125.0% in the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after purchasing an additional 2,523,267 shares during the last quarter. Finally, Phoenix Holdings Ltd. boosted its stake in Micron Technology by 8,336.6% in the third quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock valued at $117,762,000 after acquiring an additional 1,753,262 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Down 0.0 %

Shares of MU opened at $131.52 on Tuesday. 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 has a 50-day moving average of $128.07 and a 200-day moving average of $106.46. Micron Technology, Inc. has a one year low of $60.50 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the business earned ($1.57) earnings per share. The business’s revenue was up 81.5% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.39 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio is -32.39%.

Insiders Place Their Bets

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The disclosure for this sale can be found here. Insiders sold a total of 302,730 shares of company stock valued at $37,771,649 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stifel Nicolaus boosted their target price on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Susquehanna upped their price objective on shares of Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a research report on Monday, June 17th. KeyCorp lifted their target price on Micron Technology from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Bank of America boosted their target price on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target of $158.52.

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.