ProShare Advisors LLC Has $174.88 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

ProShare Advisors LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329,587 shares of the semiconductor manufacturer’s stock after selling 70,225 shares during the quarter. ProShare Advisors LLC owned approximately 0.12% of Micron Technology worth $174,881,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology in the 2nd quarter valued at $28,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology in the first quarter worth about $25,000. Valued Wealth Advisors LLC lifted its position 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 worth $29,000 after buying an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC increased its holdings in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. Finally, LRI Investments LLC raised its stake in shares of 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 in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In related 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price target on Micron Technology from $140.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. KeyCorp lowered their target price on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Wolfe Research boosted their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Citigroup lowered their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Stifel Nicolaus decreased their target price on Micron Technology from $165.00 to $135.00 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 issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.65.

Micron Technology Stock Up 1.8 %

Shares of MU opened at $90.90 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $99.81 and a two-hundred day moving average price of $114.70. The stock has a market cap of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping 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 the consensus estimate of $6.67 billion. During the same quarter last year, the company earned ($1.57) EPS. Micron Technology’s revenue was up 81.5% on a year-over-year basis. Equities analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -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.