Massachusetts Financial Services Co. MA Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Massachusetts Financial Services Co. MA boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 144.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 978,193 shares of the semiconductor manufacturer’s stock after buying an additional 578,132 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Micron Technology were worth $128,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quilter Plc lifted its holdings in shares of Micron Technology by 1.1% during the 2nd quarter. Quilter Plc now owns 197,201 shares of the semiconductor manufacturer’s stock valued at $25,938,000 after buying an additional 2,119 shares during the period. Plato Investment Management Ltd lifted its holdings in Micron Technology by 56.2% in the second quarter. Plato Investment Management Ltd now owns 20,460 shares of the semiconductor manufacturer’s stock valued at $2,691,000 after acquiring an additional 7,365 shares during the period. J.W. Cole Advisors Inc. boosted its position in Micron Technology by 86.5% in the second quarter. J.W. Cole Advisors Inc. now owns 13,914 shares of the semiconductor manufacturer’s stock worth $1,830,000 after purchasing an additional 6,455 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Micron Technology by 33.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,816 shares of the semiconductor manufacturer’s stock valued at $2,606,000 after purchasing an additional 4,914 shares during the period. Finally, Wealthspire Advisors LLC boosted its holdings in shares of Micron Technology by 23.4% in the second quarter. Wealthspire Advisors LLC now owns 2,483 shares of the semiconductor manufacturer’s stock worth $327,000 after buying an additional 471 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MU. UBS Group reduced their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. Stifel Nicolaus upped their price target on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Susquehanna lowered their price objective on Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research report on Thursday, August 22nd. Wolfe Research increased their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Finally, TD Cowen lifted their price target on shares of Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.54.

Micron Technology Stock Down 1.6 %

Shares of NASDAQ MU opened at $87.35 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The firm’s 50-day moving average price is $101.48 and its 200-day moving average price is $114.77. The stock has a market capitalization of $96.86 billion, a price-to-earnings ratio of -61.51 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period last year, the company earned ($1.57) EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

Micron Technology Company 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.