DCF Advisers LLC Acquires 4,500 Shares of Micron Technology, Inc. (NASDAQ:MU)

DCF Advisers LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 160,000 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,500 shares during the quarter. Micron Technology comprises about 10.8% of DCF Advisers LLC’s holdings, making the stock its largest position. DCF Advisers LLC’s holdings in Micron Technology were worth $21,045,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. TrinityPoint Wealth LLC boosted its holdings 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 during the last quarter. Gladstone Institutional Advisory LLC acquired a new position in Micron Technology in the 4th quarter worth $241,000. EverSource Wealth Advisors LLC boosted its position in shares of Micron Technology by 12.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock worth $332,000 after buying an additional 424 shares during the period. Tidemark LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $25,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in Micron Technology by 2.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 136,458 shares of the semiconductor manufacturer’s stock valued at $11,645,000 after purchasing an additional 3,046 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Micron Technology Price Performance

MU stock opened at $89.25 on Friday. Micron Technology, Inc. has a 52-week low of $63.83 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The business has a 50-day simple moving average of $100.66 and a two-hundred day simple moving average of $114.59. The company has a market capitalization of $98.96 billion, a P/E ratio of -62.85 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released 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 return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the firm posted ($1.57) EPS. Micron Technology’s quarterly revenue was up 81.5% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is currently -32.39%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MU shares. JPMorgan Chase & Co. raised their price target on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. KeyCorp decreased 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 note on Tuesday, August 6th. Wells Fargo & Company decreased their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group lowered their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.65.

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.