Micron Technology, Inc. (NASDAQ:MU) Institutional Investors Increase Position

Norden Group LLC Increases Position in Micron Technology, Inc. by 1,916.7%

In a recent 13F filing with the Securities and Exchange Commission, Norden Group LLC revealed that it has increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by an impressive 1,916.7% during the 1st quarter. The fund now owns 50,134 shares of the semiconductor manufacturer’s stock, with a value of $5,910,000.

This significant increase in holdings by Norden Group LLC is just one example of the growing interest in Micron Technology among institutional investors and hedge funds. Other firms, such as Revolve Wealth Partners LLC, Sandy Spring Bank, First Affirmative Financial Network, HMS Capital Management LLC, and JFS Wealth Advisors LLC, have also recently modified their holdings of the company.

Micron Technology Stock Up 3.2%

On Friday, MU stock opened at $136.82, with a market capitalization of $151.71 billion. The company has a price-to-earnings ratio of -96.35 and a beta of 1.18. Micron Technology has a fifty-two week low of $60.50 and a fifty-two week high of $157.54.

Analysts anticipate that Micron Technology will post $0.58 EPS for the current fiscal year, based on the company’s recent quarterly earnings results. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion.

Dividend Announcement and Analyst Ratings Changes

Micron Technology also recently declared a quarterly dividend, with shareholders of record on Monday, July 8th set to receive a $0.115 dividend. The ex-dividend date is also Monday, July 8th, with an annualized dividend of $0.46 and a yield of 0.34%.

The company has been the subject of several recent analyst reports, with analysts from Robert W. Baird, Argus, Cantor Fitzgerald, Fox Advisors, and Rosenblatt Securities all providing positive outlooks on the stock.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra and EVP Scott J. Deboer have recently sold shares of Micron Technology stock. Insiders have sold a total of 257,730 shares worth $31,921,649 over the last three months, with insiders owning 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 and provides memory and storage technologies under the Micron and Crucial brands.

Overall, the increasing interest from institutional investors, positive analyst ratings, dividend announcements, and insider buying and selling activity all point to a bright future for Micron Technology, Inc. as it continues to grow and innovate in the semiconductor industry.