Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 29.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,929 shares of the semiconductor manufacturer’s stock after acquiring an additional 669 shares during the period. Quotient Wealth Partners LLC’s holdings in Micron Technology were worth $385,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tidemark LLC purchased a new position in Micron Technology during the 4th quarter valued at about $25,000. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the 1st quarter worth approximately $25,000. Pingora Partners LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the 2nd quarter worth approximately $28,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $29,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on MU shares. Stifel Nicolaus increased their price objective on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Barclays boosted their price objective on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Bank of America raised their target price on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. Morgan Stanley lifted 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, UBS Group dropped 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. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.52.

Micron Technology Stock Performance

Shares of MU traded down $1.41 during mid-day trading on Friday, hitting $102.85. 24,535,168 shares of the company’s stock were exchanged, compared to its average volume of 21,332,375. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a fifty-two week low of $62.63 and a fifty-two week high of $157.54. The business’s 50 day moving average is $118.55 and its two-hundred day moving average is $113.85. The firm has a market capitalization of $114.04 billion, a P/E ratio of -72.43 and a beta of 1.18.

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 analysts’ consensus estimates 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 company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the firm earned ($1.57) EPS. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued 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 0.45%. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $126.14, for a total value of $882,980.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $90,700,840.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $126.14, for a total transaction of $882,980.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $90,700,840.86. The transaction 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 Micron Technology stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now 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 three months, insiders sold 60,174 shares of company stock valued at $8,635,073. Corporate insiders own 0.32% of the company’s stock.

Micron Technology 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.