Rational Advisors LLC Increases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Rational Advisors LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 138.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,351 shares of the semiconductor manufacturer’s stock after acquiring an additional 785 shares during the quarter. Rational Advisors LLC’s holdings in Micron Technology were worth $178,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MU. Catalyst Financial Partners LLC increased its stake in Micron Technology by 4.8% during the 2nd quarter. Catalyst Financial Partners LLC now owns 4,422 shares of the semiconductor manufacturer’s stock worth $582,000 after buying an additional 201 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Micron Technology during the second quarter worth approximately $2,705,000. New Millennium Group LLC acquired a new position in Micron Technology in the 2nd quarter valued at $39,000. First Heartland Consultants Inc. raised its stake in Micron Technology by 227.2% in the 2nd quarter. First Heartland Consultants Inc. now owns 12,329 shares of the semiconductor manufacturer’s stock valued at $1,622,000 after purchasing an additional 8,561 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its holdings in Micron Technology by 100.1% in the 2nd quarter. Independence Bank of Kentucky now owns 2,161 shares of the semiconductor manufacturer’s stock valued at $284,000 after purchasing an additional 1,081 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. TD Cowen upped their target price on Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Cantor Fitzgerald lifted their price target on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Citigroup upped their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of Micron Technology in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $157.12.

Micron Technology Stock Down 3.8 %

NASDAQ MU traded down $3.94 during trading on Monday, reaching $98.91. 26,719,264 shares of the company’s stock were exchanged, compared to its average volume of 21,368,430. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54. The stock has a market cap of $109.68 billion, a P/E ratio of -69.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The company has a 50 day moving average price of $117.57 and a two-hundred day moving average price of $114.35.

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

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on 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 owns 719,049 shares of the company’s stock, valued at approximately $95,015,134.86. The sale was disclosed in a filing 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 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 transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $132.14, for a total transaction of $924,980.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $95,015,134.86. The disclosure for this sale can be found here. Insiders have sold a total of 60,174 shares of company stock valued at $8,635,073 over the last quarter. 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.