Vanguard Capital Wealth Advisors Acquires 10,150 Shares of Micron Technology, Inc. (NASDAQ:MU)

Vanguard Capital Wealth Advisors raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 47.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 31,350 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,150 shares during the quarter. Micron Technology makes up about 2.8% of Vanguard Capital Wealth Advisors’ portfolio, making the stock its 9th largest holding. Vanguard Capital Wealth Advisors’ holdings in Micron Technology were worth $4,123,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Clearbridge Investments LLC lifted its stake in shares of Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after acquiring an additional 20,741 shares during the period. Chapin Davis Inc. acquired a new position in shares of Micron Technology in the 2nd quarter worth approximately $4,056,000. Norden Group LLC lifted its position in shares of Micron Technology by 1,916.7% in the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after purchasing an additional 47,648 shares during the period. TCW Group Inc. boosted its stake in shares of Micron Technology by 5.7% in the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after purchasing an additional 28,649 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Micron Technology by 6.3% during the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after buying an additional 5,958 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU stock opened at $90.65 on Thursday. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54. 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 stock has a market capitalization of $100.52 billion, a P/E ratio of -63.84 and a beta of 1.17. The firm’s 50 day moving average is $105.98 and its 200 day moving average is $114.87.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 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 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 firm’s revenue was up 81.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.57) earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio is -32.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MU shares. Morgan Stanley raised their target price on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Mizuho raised their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. Wolfe Research raised their price target 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. Finally, Wedbush reiterated an “outperform” rating and set a $170.00 price objective on shares of Micron Technology in a report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.12.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, 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. 0.32% of the stock is currently owned by company insiders.

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.