D.B. Root & Company LLC Has $1.02 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

D.B. Root & Company LLC cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 24.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,622 shares of the semiconductor manufacturer’s stock after selling 2,844 shares during the period. D.B. Root & Company LLC’s holdings in Micron Technology were worth $1,016,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MU. Mutual Advisors LLC raised its stake in Micron Technology by 112.9% in the 3rd quarter. Mutual Advisors LLC now owns 10,288 shares of the semiconductor manufacturer’s stock worth $700,000 after purchasing an additional 5,456 shares in the last quarter. Vinva Investment Management Ltd bought a new position in Micron Technology during the 3rd quarter worth $450,000. Gotham Asset Management LLC raised its holdings in Micron Technology by 1.1% in the 3rd quarter. Gotham Asset Management LLC now owns 26,873 shares of the semiconductor manufacturer’s stock valued at $1,828,000 after acquiring an additional 281 shares in the last quarter. First Dallas Securities Inc. lifted its position in shares of Micron Technology by 295.9% during the 3rd quarter. First Dallas Securities Inc. now owns 91,252 shares of the semiconductor manufacturer’s stock valued at $6,208,000 after acquiring an additional 68,202 shares during the period. Finally, United Services Automobile Association grew its holdings in shares of Micron Technology by 14.8% during the 3rd quarter. United Services Automobile Association now owns 28,723 shares of the semiconductor manufacturer’s stock worth $1,954,000 after purchasing an additional 3,705 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In related news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the transaction, the executive vice president now owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $122.09, for a total value of $854,630.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The disclosure for this sale can be found here. Insiders sold a total of 304,840 shares of company stock worth $37,961,924 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 0.5 %

Shares of NASDAQ:MU traded down $0.70 during mid-day trading on Friday, hitting $131.53. The company had a trading volume of 38,140,587 shares, compared to its average volume of 26,317,870. The company has a market capitalization of $145.65 billion, a PE ratio of -92.63 and a beta of 1.21. Micron Technology, Inc. has a one year low of $60.50 and a one year high of $157.54. The firm has a fifty day moving average price of $128.07 and a 200 day moving average price of $106.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.57) earnings per share. As a group, research analysts forecast that Micron Technology, Inc. will post 0.39 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be paid a $0.115 dividend. The ex-dividend date is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.35%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Ratings Changes

A number of research analysts recently commented on MU shares. Bank of America boosted their price target on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Needham & Company LLC upped their target price on Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho lifted their price target on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Finally, UBS Group cut their price objective on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $158.52.

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.