Hedeker Wealth LLC Sells 310 Shares of Micron Technology, Inc. (NASDAQ:MU)

Hedeker Wealth LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,204 shares of the semiconductor manufacturer’s stock after selling 310 shares during the period. Micron Technology comprises 2.5% of Hedeker Wealth LLC’s holdings, making the stock its 8th largest position. Hedeker Wealth LLC’s holdings in Micron Technology were worth $8,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MU. Vanguard Group Inc. lifted its position in Micron Technology by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock worth $8,106,001,000 after buying an additional 755,588 shares in the last quarter. Sanders Capital LLC lifted its position in Micron Technology by 2.3% during the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after buying an additional 503,923 shares in the last quarter. Wellington Management Group LLP lifted its position in Micron Technology by 43.4% during the third 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 lifted its position in Micron Technology by 19.7% during the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after buying an additional 2,852,688 shares in the last quarter. Finally, Capital International Investors lifted its position in Micron Technology by 2.3% during the fourth quarter. Capital International Investors now owns 15,905,621 shares of the semiconductor manufacturer’s stock worth $1,357,392,000 after buying an additional 363,902 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MU shares. The Goldman Sachs Group lifted their target price on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. UBS Group reduced their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Mizuho lifted their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Stifel Nicolaus lifted their target price on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, KeyCorp lifted their target price on Micron Technology from $150.00 to $160.00 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 assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.52.

Micron Technology Stock Performance

Shares of Micron Technology stock traded up $0.71 on Wednesday, hitting $133.30. The stock had a trading volume of 3,704,889 shares, compared to its average volume of 20,630,016. Micron Technology, Inc. has a 52-week low of $60.50 and a 52-week high of $157.54. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock has a market cap of $147.81 billion, a price-to-earnings ratio of -93.37 and a beta of 1.18. The company’s 50 day moving average price is $128.51 and its 200 day moving average price is $106.81.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s revenue was up 81.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.57) EPS. On average, research analysts anticipate that Micron Technology, Inc. will post 0.53 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be given 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 payout ratio is -32.39%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was 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 owns 153,387 shares in the company, valued at approximately $17,723,867.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was 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 in the company, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,730 shares of company stock worth $37,771,649. Company insiders own 0.32% of the company’s stock.

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.