Ensign Peak Advisors Inc Acquires 25,415 Shares of Micron Technology, Inc. (NASDAQ:MU)

Ensign Peak Advisors Inc raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 551,802 shares of the semiconductor manufacturer’s stock after purchasing an additional 25,415 shares during the period. Ensign Peak Advisors Inc’s holdings in Micron Technology were worth $72,579,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MU. Nkcfo LLC purchased a new position in shares of Micron Technology in the 2nd quarter valued at $263,000. Summit Trail Advisors LLC boosted its position in Micron Technology by 40.1% during the second quarter. Summit Trail Advisors LLC now owns 15,089 shares of the semiconductor manufacturer’s stock valued at $1,985,000 after purchasing an additional 4,318 shares in the last quarter. Pacer Advisors Inc. grew its stake in Micron Technology by 2.2% in the second quarter. Pacer Advisors Inc. now owns 131,568 shares of the semiconductor manufacturer’s stock valued at $17,305,000 after purchasing an additional 2,772 shares during the last quarter. AE Wealth Management LLC raised its holdings in Micron Technology by 143.0% in the second quarter. AE Wealth Management LLC now owns 12,636 shares of the semiconductor manufacturer’s stock worth $1,662,000 after purchasing an additional 7,435 shares in the last quarter. Finally, DCF Advisers LLC lifted its position in shares of Micron Technology by 2.9% during the second quarter. DCF Advisers LLC now owns 160,000 shares of the semiconductor manufacturer’s stock valued at $21,045,000 after buying an additional 4,500 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MU. Stifel Nicolaus reduced their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen reduced their price target on Micron Technology from $160.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday. KeyCorp lowered their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley reduced their target price on Micron Technology from $140.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $145.65.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Micron Technology Trading Up 1.8 %

Micron Technology stock opened at $90.90 on Friday. The firm has a market cap of $100.79 billion, a PE ratio of -64.01 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 stock’s 50 day simple moving average is $99.81 and its two-hundred day simple moving average is $114.70. 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 (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) 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 firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the firm posted ($1.57) earnings per share. The firm’s quarterly revenue was up 81.5% compared to the same quarter last year. Analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio is presently -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.