STF Management LP Decreases Holdings in Micron Technology, Inc. (NASDAQ:MU)

STF Management LP lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 17,531 shares of the semiconductor manufacturer’s stock after selling 781 shares during the quarter. Micron Technology makes up about 1.0% of STF Management LP’s portfolio, making the stock its 25th largest position. STF Management LP’s holdings in Micron Technology were worth $2,306,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI lifted its position in shares of Micron Technology by 81.2% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 7,972 shares of the semiconductor manufacturer’s stock valued at $1,049,000 after buying an additional 3,573 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in Micron Technology by 81.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 5,747 shares of the semiconductor manufacturer’s stock valued at $756,000 after purchasing an additional 2,574 shares during the last quarter. Sierra Summit Advisors LLC raised its position in shares of Micron Technology by 33.4% in the second quarter. Sierra Summit Advisors LLC now owns 4,568 shares of the semiconductor manufacturer’s stock valued at $601,000 after purchasing an additional 1,143 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Micron Technology by 144.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 978,193 shares of the semiconductor manufacturer’s stock worth $128,662,000 after purchasing an additional 578,132 shares in the last quarter. Finally, Quilter Plc boosted its position in shares of Micron Technology by 1.1% in the second quarter. Quilter Plc now owns 197,201 shares of the semiconductor manufacturer’s stock valued at $25,938,000 after acquiring an additional 2,119 shares during the period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MU shares. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. UBS Group decreased their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Stifel Nicolaus raised their target price on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley boosted their price target on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Finally, BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and reduced their target price for the company from $140.00 to $67.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.31.

Micron Technology Trading Up 4.6 %

Shares of NASDAQ MU opened at $91.22 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The stock has a market cap of $101.15 billion, a P/E ratio of -64.24 and a beta of 1.17. The firm has a 50-day moving average of $104.18 and a 200 day moving average of $115.03. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the company earned ($1.57) earnings per share. The company’s revenue was up 81.5% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were given a $0.115 dividend. 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 dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. In other news, 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 value of $664,355.40. Following the transaction, the executive vice president now 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 available through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

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.