Kathmere Capital Management LLC Acquires 392 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kathmere Capital Management LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,525 shares of the semiconductor manufacturer’s stock after purchasing an additional 392 shares during the period. Kathmere Capital Management LLC’s holdings in Micron Technology were worth $332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in Micron Technology during the second quarter valued at approximately $5,603,000. The Manufacturers Life Insurance Company lifted its position in Micron Technology by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,679,102 shares of the semiconductor manufacturer’s stock valued at $220,859,000 after acquiring an additional 78,571 shares during the last quarter. Mark Asset Management LP lifted its position in Micron Technology by 38.1% during the second quarter. Mark Asset Management LP now owns 55,237 shares of the semiconductor manufacturer’s stock valued at $7,265,000 after acquiring an additional 15,237 shares during the last quarter. Maverick Capital Ltd. lifted its position in Micron Technology by 3,471.0% during the second quarter. Maverick Capital Ltd. now owns 638,639 shares of the semiconductor manufacturer’s stock valued at $84,000,000 after acquiring an additional 620,755 shares during the last quarter. Finally, MBB Public Markets I LLC lifted its position in Micron Technology by 12.4% during the second quarter. MBB Public Markets I LLC now owns 417,731 shares of the semiconductor manufacturer’s stock valued at $54,944,000 after acquiring an additional 46,156 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MU shares. TD Cowen increased their target price on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday. Stifel Nicolaus decreased their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Finally, Rosenblatt Securities raised their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.38.

Micron Technology Stock Down 2.2 %

MU stock opened at $107.50 on Friday. The firm has a market cap of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. 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 firm’s fifty day moving average is $97.63 and its 200 day moving average is $114.81. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the business earned ($1.21) earnings per share. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, research analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is -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.