First Foundation Advisors Has $33,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

First Foundation Advisors trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 37.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250 shares of the semiconductor manufacturer’s stock after selling 147 shares during the quarter. First Foundation Advisors’ holdings in Micron Technology were worth $33,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Quest Partners LLC boosted its position in shares of Micron Technology by 7,328.6% during the second quarter. Quest Partners LLC now owns 520 shares of the semiconductor manufacturer’s stock worth $68,000 after purchasing an additional 513 shares in the last quarter. X Square Capital LLC boosted its position in shares of Micron Technology by 0.4% during the second quarter. X Square Capital LLC now owns 36,697 shares of the semiconductor manufacturer’s stock worth $4,827,000 after purchasing an additional 141 shares in the last quarter. Mount Lucas Management LP bought a new position in shares of Micron Technology during the second quarter worth $130,000. Ausdal Financial Partners Inc. boosted its position in shares of Micron Technology by 6.4% during the second quarter. Ausdal Financial Partners Inc. now owns 6,629 shares of the semiconductor manufacturer’s stock worth $872,000 after purchasing an additional 396 shares in the last quarter. Finally, Caprock Group LLC lifted its position in Micron Technology by 94.8% in the 2nd quarter. Caprock Group LLC now owns 35,858 shares of the semiconductor manufacturer’s stock valued at $4,716,000 after acquiring an additional 17,453 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted 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. KeyCorp cut their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC cut their price target on shares of Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Bank of America boosted their price target on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Piper Sandler boosted their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.12.

Micron Technology Stock Up 0.7 %

Shares of MU opened at $86.85 on Wednesday. Micron Technology, Inc. has a 52 week low of $63.83 and a 52 week high of $157.54. The firm has a market cap of $96.30 billion, a P/E ratio of -61.16 and a beta of 1.17. The firm’s 50-day simple moving average is $106.90 and its 200 day simple moving average is $115.04. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS 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 for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the business earned ($1.57) EPS. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. Micron Technology’s payout ratio is presently -32.39%.

Insiders Place Their Bets

In other Micron Technology 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 transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, 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 value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

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.