CMG Global Holdings LLC Has $269,000 Position in Micron Technology, Inc. (NASDAQ:MU)

CMG Global Holdings LLC lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 54.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,046 shares of the semiconductor manufacturer’s stock after selling 2,426 shares during the period. CMG Global Holdings LLC’s holdings in Micron Technology were worth $269,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. DecisionPoint Financial LLC bought a new position in shares of Micron Technology during the 1st quarter worth about $25,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology in the second quarter worth about $28,000. Frank Rimerman Advisors LLC bought a new position in Micron Technology during the fourth quarter worth about $29,000. Valued Wealth Advisors LLC boosted its holdings in Micron Technology by 230.7% during the first 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 in the last quarter. Finally, Richard W. Paul & Associates LLC grew its stake in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $107.50 on Monday. The firm has a fifty day moving average of $97.63 and a two-hundred day moving average of $114.96. 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 stock has a market capitalization of $119.20 billion, a price-to-earnings ratio of -75.70, a PEG ratio of 0.20 and a beta of 1.17. Micron Technology, Inc. has a 52 week low of $63.83 and a 52 week high of $157.54.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is -32.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MU shares. JPMorgan Chase & Co. raised their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Citigroup cut their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Cantor Fitzgerald upped their target price on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Piper Sandler lifted their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

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.