Ranch Capital Advisors Inc. Has $664,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Ranch Capital Advisors Inc. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 9.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,049 shares of the semiconductor manufacturer’s stock after selling 524 shares during the period. Ranch Capital Advisors Inc.’s holdings in Micron Technology were worth $664,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Tidemark LLC acquired a new stake in Micron Technology during the 4th quarter worth about $25,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology during the first quarter worth approximately $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology during the second quarter valued at approximately $28,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

MU has been the topic of a number of research reports. Susquehanna dropped their price target on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research note on Thursday, August 22nd. KeyCorp dropped their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Bank of America upped 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. Finally, Wolfe Research boosted their price target on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.65.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $89.25 on Friday. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. 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 business has a fifty day simple moving average of $100.66 and a 200 day simple moving average of $114.59. The firm has a market capitalization of $98.96 billion, a price-to-earnings ratio of -62.85 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the business earned ($1.57) EPS. The firm’s revenue was up 81.5% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced 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. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio (DPR) is presently -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.