Xponance Inc. Purchases 427 Shares of Micron Technology, Inc. (NASDAQ:MU)

Xponance Inc. lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,197 shares of the semiconductor manufacturer’s stock after purchasing an additional 427 shares during the period. Xponance Inc.’s holdings in Micron Technology were worth $20,545,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MU. TrinityPoint Wealth LLC raised its position in Micron Technology by 33.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after acquiring an additional 8,736 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Micron Technology by 2.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 136,458 shares of the semiconductor manufacturer’s stock worth $11,645,000 after acquiring an additional 3,046 shares during the period. SageView Advisory Group LLC bought a new stake in Micron Technology in the fourth quarter worth about $587,000. Avantax Planning Partners Inc. bought a new stake in Micron Technology in the fourth quarter worth about $221,000. Finally, Orion Portfolio Solutions LLC increased its stake in shares of 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 institutional investors.

Insider Transactions at Micron Technology

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

Micron Technology Trading Up 1.8 %

Shares of MU opened at $90.90 on Monday. The firm has a market cap of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The firm has a 50 day moving average price of $99.81 and a 200-day moving average price of $114.83.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion during 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 quarterly revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.57) EPS. As a group, equities research analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

MU has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of Micron Technology from $140.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. 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 note on Wednesday, September 18th. UBS Group reduced their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Cantor Fitzgerald boosted their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the company 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.65.

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.