Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Circle Wealth Management LLC

Circle Wealth Management LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 214.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,261 shares of the semiconductor manufacturer’s stock after buying an additional 9,048 shares during the quarter. Circle Wealth Management LLC’s holdings in Micron Technology were worth $1,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MU. Clearbridge Investments LLC boosted its holdings in Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after acquiring an additional 20,741 shares during the last quarter. Chapin Davis Inc. acquired a new position in shares of Micron Technology in the 2nd quarter valued at about $4,056,000. Norden Group LLC grew its holdings in shares of Micron Technology by 1,916.7% during the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after purchasing an additional 47,648 shares during the period. Gulf International Bank UK Ltd increased its position in Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after purchasing an additional 5,958 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in Micron Technology in the first quarter valued at approximately $8,558,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 1.8 %

NASDAQ:MU opened at $90.90 on Friday. 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 company has a market capitalization of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. The stock has a 50-day simple moving average of $99.81 and a 200 day simple moving average of $114.70.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue was up 81.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.57) EPS. Sell-side analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced 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 was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. The Goldman Sachs Group increased their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of Micron Technology in a research note on Thursday, June 27th. Mizuho increased their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Susquehanna reduced their price target on Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research report on Thursday, August 22nd. One investment 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.65.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.