KCM Investment Advisors LLC Purchases New Holdings in Micron Technology, Inc. (NASDAQ:MU)

KCM Investment Advisors LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the 1st quarter, Holdings Channel.com reports. The fund purchased 2,137 shares of the semiconductor manufacturer’s stock, valued at approximately $252,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Norden Group LLC boosted its position in Micron Technology by 1,916.7% in the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock valued at $5,910,000 after buying an additional 47,648 shares during the period. TCW Group Inc. boosted its position in Micron Technology by 5.7% in the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after buying an additional 28,649 shares during the period. Gulf International Bank UK Ltd boosted its position in Micron Technology by 6.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after buying an additional 5,958 shares during the period. TrinityPoint Wealth LLC boosted its position in Micron Technology by 33.9% in the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after buying an additional 8,736 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its position in Micron Technology by 176.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock valued at $1,349,000 after buying an additional 10,096 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Micron Technology stock traded up $0.33 during mid-day trading on Monday, reaching $133.88. 3,909,102 shares of the company traded hands, compared to its average volume of 20,721,984. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a fifty-two week low of $61.75 and a fifty-two week high of $157.54. The company has a market capitalization of $148.45 billion, a price-to-earnings ratio of -94.62 and a beta of 1.18. The firm’s fifty day moving average is $132.22 and its two-hundred day moving average is $109.94.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the business posted ($1.57) EPS. Micron Technology’s revenue for the quarter was up 81.5% compared to the same quarter last year. On average, equities research analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.34%. Micron Technology’s payout ratio is currently -32.39%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, March 21st. Bank of America upped their price target on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Robert W. Baird upped their price target on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Wells Fargo & Company upped their price target on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, Piper Sandler upped their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.72.

Insider Transactions at Micron Technology

In related news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott J. Deboer sold 40,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now directly owns 158,617 shares in the company, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold 250,730 shares of company stock worth $31,063,449 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

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.