Morse Asset Management Inc Purchases 1,512 Shares of Micron Technology, Inc. (NASDAQ:MU)

Morse Asset Management Inc raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,609 shares of the semiconductor manufacturer’s stock after buying an additional 1,512 shares during the period. Micron Technology comprises 2.0% of Morse Asset Management Inc’s portfolio, making the stock its 12th biggest position. Morse Asset Management Inc’s holdings in Micron Technology were worth $8,235,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. DecisionPoint Financial LLC bought a new position in shares of Micron Technology in the first quarter valued at about $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the 4th quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology in the second quarter worth about $28,000. Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Wolfe Research boosted their target price on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Stifel Nicolaus decreased their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. Robert W. Baird boosted their price objective on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Finally, BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their target price for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.65.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

MU stock opened at $90.90 on Monday. The stock has a 50-day moving average price of $99.81 and a two-hundred day moving average price of $114.83. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54. The stock has a market cap of $100.79 billion, a PE ratio of -64.01 and a beta of 1.17. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period last year, the company earned ($1.57) earnings per share. Equities analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

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.