Micron Technology, Inc. (NASDAQ:MU) Stake Lowered by CMG Global Holdings LLC

CMG Global Holdings LLC decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 54.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,046 shares of the semiconductor manufacturer’s stock after selling 2,426 shares during the period. CMG Global Holdings LLC’s holdings in Micron Technology were worth $269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new position in Micron Technology during the 2nd quarter valued at about $28,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the first quarter worth approximately $25,000. Valued Wealth Advisors LLC grew its holdings in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares in the last quarter. Richard W. Paul & Associates LLC grew its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares in the last quarter. Finally, LRI Investments LLC increased its position in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company decreased 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 report on Wednesday, September 18th. Rosenblatt Securities increased their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Wolfe Research boosted their target price on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday. Finally, BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $144.38.

Micron Technology Trading Down 2.2 %

NASDAQ:MU opened at $107.50 on Monday. The company has a market capitalization of $119.20 billion, a P/E ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. The stock’s 50 day moving average price is $97.63 and its 200 day moving average price is $114.96. 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 52 week low of $63.83 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 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 93.3% compared to the same quarter last year. During the same period last year, the company earned ($1.21) earnings per share. On average, research analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is -32.39%.

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.