Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Blair William & Co. IL

Blair William & Co. IL grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,877 shares of the semiconductor manufacturer’s stock after acquiring an additional 842 shares during the period. Blair William & Co. IL’s holdings in Micron Technology were worth $39,706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. TrinityPoint Wealth LLC increased its holdings in shares of Micron Technology by 33.9% in the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after acquiring an additional 8,736 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new stake in Micron Technology during the fourth quarter valued at $241,000. Coldstream Capital Management Inc. increased its stake in Micron Technology by 4.2% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,702 shares of the semiconductor manufacturer’s stock valued at $999,000 after purchasing an additional 476 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Micron Technology by 12.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock worth $332,000 after purchasing an additional 424 shares during the period. Finally, Alpha Family Trust bought a new position in shares of Micron Technology in the 4th quarter worth about $535,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $87.35 on Thursday. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The stock has a fifty day moving average price of $101.48 and a two-hundred day moving average price of $114.77. The firm has a market cap of $96.86 billion, a P/E ratio of -61.51 and a beta of 1.17.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors 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 0.53%. Micron Technology’s payout ratio is currently -32.39%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was 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 of the company’s stock, valued at approximately $19,335,731.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MU. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of Micron Technology in a research report on Thursday, June 27th. Bank of America increased their target price on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Wells Fargo & Company reduced their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.54.

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.