Resonant Capital Advisors LLC Invests $258,000 in Micron Technology, Inc. (NASDAQ:MU)

Resonant Capital Advisors LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,965 shares of the semiconductor manufacturer’s stock, valued at approximately $258,000.

Other large investors have also recently made changes to their positions in the company. Tidemark LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $25,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology during the 1st quarter worth approximately $25,000. Pingora Partners LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $28,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at approximately $29,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on 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 directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on 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 directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The disclosure for this sale can be found here. Insiders sold a total of 46,174 shares of company stock worth $6,827,113 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $88.58 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a market cap of $98.22 billion, a P/E ratio of -62.38 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $63.83 and a 52 week high of $157.54. The company has a 50-day moving average price of $111.55 and a 200 day moving average price of $114.87.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue was up 81.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.57) earnings per share. Research analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on MU. Susquehanna dropped their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research report on Thursday, August 22nd. Raymond James increased their price objective on shares of Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Needham & Company LLC dropped their price objective on shares of Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Bank of America increased their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Finally, Morgan Stanley increased their price objective on shares of Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.12.

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.