Capital Investment Advisors LLC reduced its stake in Micron Technology Inc. (NASDAQ:MU – free report ) by 5.0% during the second quarter, according to the fund's latest 13F filing with the Securities and Exchange Commission. The fund sold 287 shares during the period, leaving it holding 5,506 shares of the semiconductor manufacturer. Capital Investment Advisors LLC's holdings of Micron Technology stock were worth $724,000 at the end of the latest reporting period.
Other hedge funds also modified their holdings in MU. Tidemark LLC purchased a new stake in Micron Technology in the fourth quarter valued at approximately $25,000. DecisionPoint Financial LLC purchased a new stake in Micron Technology in the first quarter valued at $25,000. Pingora Partners LLC purchased a new stake in Micron Technology in the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new stake in Micron Technology in the fourth quarter valued at $29,000. Finally, Valued Wealth Advisors LLC increased its holdings in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor maker's stock valued at $29,000 after acquiring an additional 173 shares last quarter. Institutional investors own 80.84% of the company's shares.
Insider trading
In related news, SVP Michael W. Bokan sold 15,000 shares of the company's stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total transaction value of $1,851,300. Following the completion of the transaction, the senior vice president now owns 138,387 shares of the company's stock, valued at approximately $17,079,723.54. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the SEC's website. In related news, SVP Michael W. Bokan sold 15,000 shares of the company's stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total transaction value of $1,851,300. Following the completion of the transaction, the Executive Vice President now owns 138,387 shares of the company's stock, valued at approximately $17,079,723.54. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, available on the SEC's website. Additionally, Executive Vice President, April S. Arnzen sold 4,890 shares of the company'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 of the company's stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,174 shares of the company's stock for a total value of $13,716,343. Insiders own 0.32% of the company's shares.
What Wall Street analysts are saying
Several analysts have offered their opinions on the company. TD Cowen increased their price target on Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Raymond James increased their price target on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. The Goldman Sachs Group increased their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Stifel Nicolaus increased their price target on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Cantor Fitzgerald boosted their price target on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, June 17. Two equities research analysts have rated the stock with a hold rating, and 25 have given a buy rating. MarketBeat.com has an average rating of a “moderate buy” for the company, with a consensus price target of $157.92.
Read the latest report on MU
Micron Technology's Price Performance
Shares of NASDAQ:MU opened trading at $93.08 on Friday. Micron Technology, Inc. has a 52-week low of $61.75 and a 52-week high of $157.54. The company's 50-day moving average is $124.66 and 200-day moving average is $112.87. The company has a market cap of $103.21 billion, a P/E ratio of -65.55 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.
Micron Technology (NASDAQ:MU – get free report ) released its quarterly earnings on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.14. Micron Technology's ROE was negative 4.01%, while its net margin was negative 7.20%. The company's quarterly revenue was $6.81 billion, compared to analysts' estimates of $6.67 billion. During the same period last year, the company posted earnings per share of ($1.57). The company's quarterly revenue grew 81.5% year over year. On average, equities research analysts expect Micron Technology, Inc. to post EPS of $0.58 for the current quarter.
Micron Technology Dividend Announcement
The company also recently declared 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 was Monday, July 8th. This equates to an annualized dividend of $0.46 and a dividend yield of 0.49%. Micron Technology's dividend payout ratio is currently -32.39%.
Micron Technology Company Profile
(Free report)
Micron Technology, Inc. designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking, Mobile, Embedded and Storage. The company offers memory and storage technologies under the Micron and Crucial brands, as well as private labels, including dynamic random access memory semiconductor devices that provide low latency and fast data retrieval, nonvolatile rewriteable semiconductor storage devices and nonvolatile rewriteable semiconductor memory devices that provide fast read speeds.
Feature Articles
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