Legacy Financial Advisors Inc. Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Legacy Financial Advisors Inc. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,357 shares of the semiconductor manufacturer’s stock after buying an additional 118 shares during the period. Legacy Financial Advisors Inc.’s holdings in Micron Technology were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MU. Tidemark LLC purchased a new stake in Micron Technology during the 4th quarter valued at $25,000. DecisionPoint Financial LLC bought a new position in Micron Technology during the 1st quarter valued at about $25,000. Pingora Partners LLC purchased a new stake in Micron Technology in the 4th quarter worth about $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology in the second quarter worth about $28,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $29,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Up 1.8 %

Shares of Micron Technology stock opened at $90.90 on Friday. 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 cap of $100.79 billion, a P/E ratio of -64.01 and a beta of 1.17. The firm’s 50 day moving average price is $99.81 and its 200-day moving average price is $114.70. Micron Technology, Inc. has a 52-week low of $63.83 and a 52-week high of $157.54.

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 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 in the previous year, the company earned ($1.57) earnings per share. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. On average, sell-side analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Analyst Ratings Changes

MU has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Stifel Nicolaus decreased their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley cut their price target on shares of Micron Technology from $140.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald upped their target price on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.65.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’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 approximately $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.