Apis Capital Advisors LLC Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Apis Capital Advisors LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 146.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,000 shares of the semiconductor manufacturer’s stock after buying an additional 22,000 shares during the quarter. Micron Technology accounts for approximately 3.6% of Apis Capital Advisors LLC’s holdings, making the stock its 11th biggest holding. Apis Capital Advisors LLC’s holdings in Micron Technology were worth $4,867,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC grew its position in shares of Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after buying an additional 8,736 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Micron Technology by 2.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 136,458 shares of the semiconductor manufacturer’s stock worth $11,645,000 after purchasing an additional 3,046 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of Micron Technology in the 4th quarter worth about $587,000. Avantax Planning Partners Inc. acquired a new stake in shares of Micron Technology in the 4th quarter valued at about $221,000. Finally, Orion Portfolio Solutions LLC grew its stake in Micron Technology by 9.9% in the fourth quarter. Orion Portfolio Solutions LLC now owns 61,749 shares of the semiconductor manufacturer’s stock worth $5,246,000 after purchasing an additional 5,576 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 1.8 %

Micron Technology stock opened at $90.90 on Monday. Micron Technology, Inc. has a 52 week low of $63.83 and a 52 week high of $157.54. The stock has a market cap of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17. The company’s 50-day moving average price is $99.81 and its two-hundred day moving average price is $114.83. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.57) earnings per share. On average, analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Raymond James lowered their price target on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Needham & Company LLC reduced their price objective on Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Citigroup lowered their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Bank of America lifted their price target on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. 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 company’s stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $145.65.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on 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 approximately $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

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.