LHM Inc. Purchases 6,748 Shares of Micron Technology, Inc. (NASDAQ:MU)

LHM Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 12.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 62,512 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,748 shares during the period. Micron Technology makes up about 3.4% of LHM Inc.’s holdings, making the stock its 3rd largest position. LHM Inc.’s holdings in Micron Technology were worth $8,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology in the 1st quarter worth about $25,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the 2nd quarter worth approximately $28,000. Frank Rimerman Advisors LLC bought a new stake in Micron Technology during the 4th quarter worth approximately $29,000. Valued Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 230.7% in 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 in the last quarter. Finally, Richard W. Paul & Associates LLC lifted its holdings in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 3.5 %

Shares of MU stock opened at $103.71 on Tuesday. The company has a 50 day moving average of $97.40 and a 200-day moving average of $115.05. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54. The firm has a market cap of $115.00 billion, a P/E ratio of -73.04, a PEG ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period last year, the firm earned ($1.21) EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley increased their price target on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $140.00 to $67.00 in a report on Thursday, September 12th. UBS Group dropped their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Finally, TD Cowen lifted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.38.

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.