Citizens Financial Group Inc. RI Increases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Citizens Financial Group Inc. RI increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 81.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,972 shares of the semiconductor manufacturer’s stock after buying an additional 3,573 shares during the period. Citizens Financial Group Inc. RI’s holdings in Micron Technology were worth $1,049,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC increased its position in Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after buying an additional 8,736 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in shares of Micron Technology during the fourth quarter valued at $241,000. Coldstream Capital Management Inc. increased its position in Micron Technology by 4.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,702 shares of the semiconductor manufacturer’s stock worth $999,000 after purchasing an additional 476 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Micron Technology by 12.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock valued at $332,000 after purchasing an additional 424 shares during the last quarter. Finally, Alpha Family Trust purchased a new position in Micron Technology in the 4th quarter valued at about $535,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Up 1.8 %

MU opened at $88.73 on Wednesday. The firm’s 50 day moving average is $102.46 and its 200-day moving average is $114.96. Micron Technology, Inc. has a 52-week low of $63.83 and a 52-week high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $98.39 billion, a P/E ratio of -62.49 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue was up 81.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.57) EPS. Analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.52%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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 stock was 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 in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

MU has been the subject of a number of analyst reports. Needham & Company LLC cut their price objective on shares of Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Rosenblatt Securities restated a “buy” rating and set a $225.00 price objective on shares of Micron Technology in a report on Tuesday, June 25th. Wells Fargo & Company upped their target price on Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Cantor Fitzgerald lifted their price target on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Finally, Bank of America increased their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.12.

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.