Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by &Partners

&Partners increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 15.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,364 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,631 shares during the quarter. &Partners’ holdings in Micron Technology were worth $1,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the 2nd quarter valued at approximately $28,000. DecisionPoint Financial LLC purchased a new position in Micron Technology during the 1st quarter worth $25,000. Valued Wealth Advisors LLC raised its position in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC lifted its stake in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the period. Finally, Tidemark LLC acquired a new position in shares of Micron Technology during the fourth quarter worth about $25,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 1.4 %

Shares of MU stock opened at $102.85 on Friday. The company has a market capitalization of $114.04 billion, a price-to-earnings ratio of -72.43 and a beta of 1.18. 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 firm has a 50-day moving average price of $118.55 and a 200 day moving average price of $113.85. Micron Technology, Inc. has a twelve month low of $62.63 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share 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 during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the business posted ($1.57) earnings per share. The company’s revenue was up 81.5% on a year-over-year basis. Research analysts forecast 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 was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,174 shares of company stock worth $8,635,073. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Mizuho raised their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Morgan Stanley lifted their price target on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 24th. UBS Group dropped their price objective on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Robert W. Baird raised their target price on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $157.52.

Micron Technology 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.