Micron Technology, Inc. (NASDAQ:MU) Position Boosted by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 40.1% during the 2nd quarter, Holdings Channel reports. The fund owned 15,089 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,318 shares during the period. Summit Trail Advisors LLC’s holdings in Micron Technology were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology in the second quarter valued at approximately $28,000. DecisionPoint Financial LLC bought a new position in Micron Technology during the 1st quarter valued at $25,000. Valued Wealth Advisors LLC increased its position in shares of Micron Technology by 230.7% during 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 period. Richard W. Paul & Associates LLC raised 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 worth $34,000 after buying an additional 144 shares in the last quarter. Finally, LRI Investments LLC lifted its holdings in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MU. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Wolfe Research boosted their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Citigroup reduced their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Morgan Stanley dropped their price target 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. Finally, Raymond James reduced their price objective on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.65.

Micron Technology Stock Up 1.8 %

Micron Technology stock opened at $90.90 on Friday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The firm’s fifty day simple moving average is $99.81 and its 200-day simple moving average is $114.70. The company has a market capitalization of $100.79 billion, a P/E ratio of -64.01 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue was up 81.5% compared to the same quarter last year. During the same period last year, the company earned ($1.57) earnings per share. Sell-side analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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.