Hennion & Walsh Asset Management Inc. Invests $273,000 in Micron Technology, Inc. (NASDAQ:MU)

Hennion & Walsh Asset Management Inc. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 1st quarter, Holdings Channel.com reports. The fund acquired 2,315 shares of the semiconductor manufacturer’s stock, valued at approximately $273,000.

Several other institutional investors also recently modified their holdings of the company. Occidental Asset Management LLC bought a new position in Micron Technology in the 1st quarter valued at $252,000. Independence Bank of Kentucky acquired a new stake in shares of Micron Technology in the 1st quarter valued at $127,000. Calton & Associates Inc. acquired a new stake in shares of Micron Technology in the 1st quarter valued at $252,000. Register Financial Advisors LLC increased its stake in shares of Micron Technology by 1.8% in the 1st quarter. Register Financial Advisors LLC now owns 11,155 shares of the semiconductor manufacturer’s stock valued at $1,315,000 after buying an additional 201 shares during the period. Finally, Capital Asset Advisory Services LLC acquired a new stake in shares of Micron Technology in the 1st quarter valued at $631,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MU. Bank of America lifted 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. Robert W. Baird lifted their price objective on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. KeyCorp lifted their price objective on Micron Technology from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Cantor Fitzgerald lifted their price objective on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Finally, Susquehanna lifted their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research note on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total transaction of $858,200.00. Following the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $89,321,088.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total transaction of $858,200.00. Following the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $89,321,088.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the transaction, the executive vice president now directly 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 quarter, insiders have sold 257,730 shares of company stock valued at $31,921,649. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Up 3.2 %

Shares of NASDAQ:MU opened at $136.82 on Friday. The company has a market capitalization of $151.71 billion, a P/E ratio of -96.35 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $60.50 and a 1 year high of $157.54. 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 business’s 50 day simple moving average is $129.42 and its 200 day simple moving average is $107.38.

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, topping analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for 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 quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.57) earnings per share. On average, research analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current fiscal 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 issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

About Micron Technology

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.