Fidelis Capital Partners LLC Has $1.87 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Fidelis Capital Partners LLC cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,196 shares of the semiconductor manufacturer’s stock after selling 303 shares during the period. Fidelis Capital Partners LLC’s holdings in Micron Technology were worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of MU. TrinityPoint Wealth LLC boosted its stake in Micron Technology by 33.9% in the fourth 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 position in shares of Micron Technology in the 4th quarter worth $241,000. Tidemark LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth $25,000. Cambridge Investment Research Advisors Inc. increased its holdings in Micron Technology by 2.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 136,458 shares of the semiconductor manufacturer’s stock valued at $11,645,000 after purchasing an additional 3,046 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new position in Micron Technology in the fourth quarter valued at about $587,000. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

MU has been the subject of several analyst reports. TD Cowen decreased their target price on Micron Technology from $160.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday. Susquehanna lowered their target price on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research note on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research report on Tuesday, June 25th. Wells Fargo & Company lowered 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. Finally, Bank of America lifted their target price on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. One 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.65.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $90.90 on Friday. 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 50 day moving average price of $99.81 and a 200 day moving average price of $114.70. The stock has a market capitalization of $100.79 billion, a PE ratio of -64.01 and a beta of 1.17. Micron Technology, Inc. has a 52 week low of $63.83 and a 52 week high of $157.54.

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, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the business earned ($1.57) earnings per share. The firm’s revenue was up 81.5% on a year-over-year basis. Analysts predict 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. Investors 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 yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s payout ratio is currently -32.39%.

Insiders Place Their Bets

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

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.