Dorsey & Whitney Trust CO LLC Buys 2,670 Shares of Micron Technology, Inc. (NASDAQ:MU)

Dorsey & Whitney Trust CO LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 38.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,683 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,670 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Micron Technology were worth $1,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atria Investments Inc lifted its position in Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 93 shares in the last quarter. Aspect Partners LLC lifted its position in Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 94 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares in the last quarter. Ameritas Advisory Services LLC lifted its position in Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares in the last quarter. Finally, LRI Investments LLC increased its stake in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

MU has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of Micron Technology in a research note on Thursday, June 27th. Wolfe Research boosted their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Robert W. Baird boosted their price objective on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. UBS Group lowered their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Finally, Mizuho boosted their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.12.

Micron Technology Stock Performance

NASDAQ MU opened at $86.85 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 capitalization of $96.30 billion, a P/E ratio of -61.16 and a beta of 1.17. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The firm has a 50-day moving average price of $106.90 and a two-hundred day moving average price of $115.04.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the prior year, the firm posted ($1.57) EPS. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were 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 owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the 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 transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

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.