5,103 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,103 shares of the semiconductor manufacturer’s stock, valued at approximately $631,000.

Other large investors have also added to or reduced their stakes in the company. Tidemark LLC bought a new stake in Micron Technology during the fourth quarter worth $25,000. Pingora Partners LLC bought a new stake in Micron Technology during the fourth quarter worth $26,000. Frank Rimerman Advisors LLC bought a new stake in Micron Technology during the fourth quarter worth $29,000. VisionPoint Advisory Group LLC raised its position in Micron Technology by 68.3% during the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in Micron Technology during the first quarter worth $39,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. Needham & Company LLC upped their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America increased their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Finally, Wells Fargo & Company increased their price objective on shares of Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.52.

Insider Activity

In other news, EVP Sumit Sadana sold 13,239 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the sale, the executive vice president now directly owns 260,857 shares in the company, valued at approximately $30,981,985.89. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Sumit Sadana sold 13,239 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the sale, the executive vice president now directly owns 260,857 shares in the company, valued at approximately $30,981,985.89. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 319,119 shares in the company, valued at $38,032,602.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 304,840 shares of company stock worth $37,961,924. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 0.5 %

Shares of Micron Technology stock opened at $131.53 on Friday. The company has a current ratio of 3.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $157.54. The firm’s 50-day moving average price is $128.07 and its two-hundred day moving average price is $106.08.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.57) earnings per share. As a group, sell-side analysts predict that Micron Technology, Inc. will post 0.36 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared 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 0.35%. Micron Technology’s payout ratio is currently -32.39%.

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.