Silver Lake Advisory LLC Makes New $512,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

Silver Lake Advisory LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 3,892 shares of the semiconductor manufacturer’s stock, valued at approximately $512,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Tidemark LLC bought a new position in shares of Micron Technology in the fourth quarter valued at about $25,000. DecisionPoint Financial LLC bought a new position in shares of Micron Technology in the first quarter valued at about $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology in the fourth quarter valued at about $26,000. Frank Rimerman Advisors LLC bought a new position in shares of Micron Technology in the fourth quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $132.14, for a total value of $924,980.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $95,015,134.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated 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 in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,174 shares of company stock valued at $9,528,693. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Cantor Fitzgerald boosted their price objective on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Raymond James boosted their price objective on Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Susquehanna boosted their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a report on Monday, June 17th. The Goldman Sachs Group boosted their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price target on shares of Micron Technology in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.92.

Micron Technology Stock Performance

MU stock traded up $1.04 during trading hours on Friday, hitting $107.99. 18,353,839 shares of the stock were exchanged, compared to its average volume of 21,450,379. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $119.74 billion, a P/E ratio of -76.05 and a beta of 1.18. The company has a 50-day simple moving average of $121.81 and a two-hundred day simple moving average of $113.14. Micron Technology, Inc. has a 12 month low of $61.75 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter last year, the business earned ($1.57) EPS. On average, analysts forecast that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -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.