1,648 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,648 shares of the semiconductor manufacturer’s stock, valued at approximately $217,000.

A number of other large investors have also recently bought and sold shares of the business. Tidemark LLC acquired a new position in Micron Technology during the 4th quarter worth $25,000. DecisionPoint Financial LLC acquired a new position in Micron Technology during the 1st quarter worth $25,000. Pingora Partners LLC acquired a new position in Micron Technology during the 4th quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology during the 2nd quarter worth $28,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Micron Technology during the 4th quarter worth $29,000. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,174 shares of company stock valued at $6,827,113. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. KeyCorp cut their price objective on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. TD Cowen upped their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. UBS Group cut their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Finally, The Goldman Sachs Group upped their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.12.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $88.58 on Wednesday. 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 capitalization of $98.22 billion, a price-to-earnings ratio of -62.38 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The firm’s 50-day moving average price is $111.55 and its two-hundred day moving average price is $114.87.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.57) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s dividend payout ratio is -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.