New World Advisors LLC Has $309,000 Position in Micron Technology, Inc. (NASDAQ:MU)

New World Advisors LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 42.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,350 shares of the semiconductor manufacturer’s stock after selling 1,750 shares during the period. New World Advisors LLC’s holdings in Micron Technology were worth $309,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at $28,000. DecisionPoint Financial LLC bought a new position in shares of Micron Technology during the 1st quarter valued at $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Richard W. Paul & Associates LLC raised its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the period. Finally, LRI Investments LLC raised its holdings in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

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 transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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. Insiders sold a total of 46,174 shares of company stock worth $6,827,113 over the last quarter. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MU shares. The Goldman Sachs Group boosted their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Raymond James lifted their target price on shares of Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Susquehanna decreased their target price on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research report on Thursday, August 22nd. Wolfe Research lifted their target price on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Finally, Mizuho lifted their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Two analysts have rated the stock with a hold rating and twenty-five have issued 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 price target of $157.12.

Micron Technology Stock Up 0.8 %

MU traded up $0.74 during trading hours on Wednesday, hitting $89.32. 7,888,120 shares of the company’s stock were exchanged, compared to its average volume of 21,307,334. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The stock’s 50-day moving average is $111.55 and its two-hundred day moving average is $114.87. The stock has a market cap of $99.04 billion, a price-to-earnings ratio of -63.17 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly 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 firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s revenue for the quarter was up 81.5% compared to the same quarter last year. During the same quarter last year, the company posted ($1.57) earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio 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.