Nkcfo LLC Takes Position in Micron Technology, Inc. (NASDAQ:MU)

Nkcfo LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,000 shares of the semiconductor manufacturer’s stock, valued at approximately $263,000.

Other large investors have also recently added to or reduced their stakes in the company. Tidemark LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at about $25,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the 1st quarter valued at approximately $25,000. Pingora Partners LLC bought a new position in Micron Technology in the 4th quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the second quarter worth approximately $28,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at approximately $29,000. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

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 value of $664,355.40. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

MU has been the topic of a number of research reports. Mizuho boosted their target price on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Wells Fargo & Company cut their price objective 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. TD Cowen decreased their target price on Micron Technology from $160.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America upped their price target on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. Finally, Cantor Fitzgerald lifted their price objective on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report 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 issued a buy rating to the company. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $145.65.

Micron Technology Trading Up 1.8 %

Shares of NASDAQ MU opened at $90.90 on Friday. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The company has a 50-day moving average of $99.81 and a two-hundred day moving average of $114.56. The company has a market cap of $100.79 billion, a PE ratio of -64.01 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.

Micron Technology (NASDAQ:MU) last released its earnings results 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 company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.57) earnings per share. As a group, equities analysts expect that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, July 8th. 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.