Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Increased by Quilter Plc

Quilter Plc raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 197,201 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,119 shares during the quarter. Quilter Plc’s holdings in Micron Technology were worth $25,938,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its stake in Micron Technology by 10.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 101,073 shares of the semiconductor manufacturer’s stock worth $8,626,000 after purchasing an additional 9,289 shares in the last quarter. Foundations Investment Advisors LLC increased its position in shares of Micron Technology by 10.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 5,109 shares of the semiconductor manufacturer’s stock worth $437,000 after acquiring an additional 488 shares in the last quarter. TrinityPoint Wealth LLC raised its holdings in shares of Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after acquiring an additional 8,736 shares during the period. Norges Bank purchased a new stake in shares of Micron Technology in the 4th quarter valued at approximately $769,372,000. Finally, Gladstone Institutional Advisory LLC acquired a new position in Micron Technology in the 4th quarter worth approximately $241,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Up 4.6 %

Shares of MU stock opened at $91.22 on Monday. The business’s 50 day moving average is $104.18 and its two-hundred day moving average is $115.03. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54. The company has a market cap of $101.15 billion, a PE ratio of -64.24 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s revenue was up 81.5% compared to the same quarter last year. During the same period last year, the business posted ($1.57) EPS. Equities analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid 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 0.50%. Micron Technology’s payout ratio is -32.39%.

Analyst Ratings Changes

Several brokerages have issued reports on MU. TD Cowen boosted their target price on shares of Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Raymond James dropped their price target on Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday. Stifel Nicolaus raised their price objective on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $140.00 to $67.00 in a report on Thursday. Finally, Robert W. Baird raised their price target on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. One research 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 company. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $152.31.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the 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 completion of the sale, the executive vice president now directly 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 other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated 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 owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

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.