LHM Inc. Buys 21,478 Shares of Micron Technology, Inc. (NASDAQ:MU)

LHM Inc. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 38.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,242 shares of the semiconductor manufacturer’s stock after acquiring an additional 21,478 shares during the period. Micron Technology comprises 3.7% of LHM Inc.’s holdings, making the stock its 6th biggest position. LHM Inc.’s holdings in Micron Technology were worth $10,160,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MU. Intech Investment Management LLC boosted its holdings in Micron Technology by 111.3% during the second quarter. Intech Investment Management LLC now owns 93,026 shares of the semiconductor manufacturer’s stock worth $12,236,000 after buying an additional 49,001 shares in the last quarter. ProVise Management Group LLC purchased a new stake in Micron Technology during the second quarter worth $236,000. MRP Capital Investments LLC boosted its holdings in Micron Technology by 52.0% during the second quarter. MRP Capital Investments LLC now owns 9,685 shares of the semiconductor manufacturer’s stock worth $1,274,000 after buying an additional 3,315 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in Micron Technology by 46.0% during the second quarter. Carolinas Wealth Consulting LLC now owns 2,975 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 938 shares in the last quarter. Finally, SkyOak Wealth LLC boosted its holdings in Micron Technology by 15.3% during the second quarter. SkyOak Wealth LLC now owns 2,814 shares of the semiconductor manufacturer’s stock worth $370,000 after buying an additional 374 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MU has been the subject of a number of research analyst reports. Citigroup reduced their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their target price for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Wells Fargo & Company reduced 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. KeyCorp reduced their target price on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Susquehanna cut their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $145.65.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Micron Technology Stock Up 2.2 %

Shares of Micron Technology stock opened at $89.25 on Friday. Micron Technology, Inc. has a 52-week low of $63.83 and a 52-week high of $157.54. The company has a 50 day moving average of $100.66 and a 200 day moving average of $114.59. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $98.96 billion, a P/E ratio of -62.85 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its quarterly 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 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 previous year, the firm earned ($1.57) earnings per share. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. As a group, research analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders 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 dividend on an annualized basis and a yield of 0.52%. Micron Technology’s payout ratio is currently -32.39%.

Micron Technology Company 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.