Ranch Capital Advisors Inc. Cuts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Ranch Capital Advisors Inc. reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 9.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,049 shares of the semiconductor manufacturer’s stock after selling 524 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Micron Technology were worth $664,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MU. Price T Rowe Associates Inc. MD grew its holdings in shares of Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares during the period. Capital International Investors boosted its position in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after buying an additional 2,397,885 shares in the last quarter. Swedbank AB increased its holdings in Micron Technology by 473.8% during the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after acquiring an additional 2,187,460 shares in the last quarter. 1832 Asset Management L.P. raised its position in Micron Technology by 301,500.0% during the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after acquiring an additional 1,809,000 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Micron Technology by 28.9% in the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock valued at $892,023,000 after purchasing an additional 1,695,876 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MU shares. Robert W. Baird upped their target price on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Citigroup lowered their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday. UBS Group decreased their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday. 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, TD Cowen dropped their price objective on shares of Micron Technology from $160.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.65.

Micron Technology Stock Up 2.2 %

Shares of Micron Technology stock opened at $89.25 on Friday. Micron Technology, Inc. has a twelve month low of $63.83 and a twelve month high of $157.54. The stock has a market capitalization of $98.96 billion, a price-to-earnings ratio of -62.85 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. The business’s 50 day simple moving average is $100.66 and its 200-day simple moving average is $114.59.

Micron Technology (NASDAQ:MU) last released 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 business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s revenue for the quarter was up 81.5% compared to the same quarter last year. During the same quarter last year, the company earned ($1.57) EPS. 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 declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -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.