DCF Advisers LLC Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

DCF Advisers LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 160,000 shares of the semiconductor manufacturer’s stock after buying an additional 4,500 shares during the period. Micron Technology comprises approximately 10.8% of DCF Advisers LLC’s holdings, making the stock its biggest position. DCF Advisers LLC’s holdings in Micron Technology were worth $21,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tidemark LLC bought a new stake in Micron Technology in the 4th quarter valued at about $25,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology in the first quarter valued at approximately $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the second quarter worth approximately $28,000. Finally, Frank Rimerman Advisors LLC bought a new position in Micron Technology in the 4th quarter worth approximately $29,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday. Wolfe Research increased their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Wedbush reissued an “outperform” rating and set a $170.00 target price on shares of Micron Technology in a report on Thursday, June 27th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. Finally, KeyCorp lowered their price target on Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.65.

Micron Technology Stock Performance

Shares of MU stock opened at $89.25 on Friday. The firm has a market cap of $98.96 billion, a P/E ratio of -62.85 and a beta of 1.17. The stock’s 50-day moving average is $100.66 and its two-hundred day moving average is $114.59. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the prior year, the company posted ($1.57) EPS. The firm’s revenue was up 81.5% on a year-over-year basis. Analysts predict 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. Stockholders of record on Monday, July 8th were given a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio is -32.39%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.