Micron Technology, Inc. (NASDAQ:MU) Stake Lifted by Altshuler Shaham Ltd

Altshuler Shaham Ltd grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.4% during the second quarter, HoldingsChannel reports. The firm owned 1,142,226 shares of the semiconductor manufacturer’s stock after buying an additional 15,577 shares during the period. Micron Technology accounts for 5.1% of Altshuler Shaham Ltd’s portfolio, making the stock its 8th largest position. Altshuler Shaham Ltd’s holdings in Micron Technology were worth $150,237,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. DecisionPoint Financial LLC bought a new position in Micron Technology during the 1st quarter worth approximately $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology during the 2nd quarter valued at approximately $28,000. Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at $29,000. Finally, Valued Wealth Advisors LLC lifted its position in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value 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 $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Raymond James reduced their price objective on shares of Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Mizuho raised their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Morgan Stanley decreased their target price on Micron Technology from $140.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Citigroup reduced their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, TD Cowen decreased their price target on Micron Technology from $160.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $145.65.

Micron Technology Stock Performance

NASDAQ:MU opened at $90.90 on Monday. The firm has a market capitalization of $100.79 billion, a PE ratio of -64.01 and a beta of 1.17. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 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 firm’s fifty day simple moving average is $99.81 and its 200 day simple moving average is $114.83.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping 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 company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the previous year, the company earned ($1.57) earnings per share. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. On average, sell-side analysts anticipate 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 paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s payout ratio is presently -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.