Mercer Global Advisors Inc. ADV Purchases 5,481 Shares of Micron Technology, Inc. (NASDAQ:MU)

Mercer Global Advisors Inc. ADV raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 274,917 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,481 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Micron Technology were worth $36,160,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Tidemark LLC purchased a new stake in shares of Micron Technology during the fourth quarter worth about $25,000. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology in the first quarter valued at $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology in the 4th quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the 2nd quarter valued at $28,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at $29,000. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In related news, 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 sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 1.6 %

Shares of MU stock opened at $87.35 on Thursday. 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 stock has a market cap of $96.86 billion, a PE ratio of -61.51 and a beta of 1.17. The business’s fifty day moving average is $101.48 and its 200-day moving average is $114.77. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The company 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 company earned ($1.57) earnings per share. Equities analysts expect that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is presently -32.39%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MU shares. KeyCorp decreased their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group upped their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Cantor Fitzgerald boosted their target price on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Susquehanna reduced their price objective on Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.54.

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.