Advisory Services Network LLC Reduces Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Advisory Services Network LLC reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 47,921 shares of the semiconductor manufacturer’s stock after selling 619 shares during the quarter. Advisory Services Network LLC’s holdings in Micron Technology were worth $5,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Manchester Capital Management LLC lifted its stake in Micron Technology by 5.2% in the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 104 shares in the last quarter. Oxbow Advisors LLC purchased a new stake in Micron Technology in the 1st quarter worth approximately $377,000. John G Ullman & Associates Inc. lifted its stake in Micron Technology by 14.0% in the 1st quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $479,000 after purchasing an additional 500 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Micron Technology by 0.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 228,188 shares of the semiconductor manufacturer’s stock worth $26,901,000 after purchasing an additional 1,478 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Micron Technology by 1,033.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 36,414 shares of the semiconductor manufacturer’s stock worth $4,293,000 after purchasing an additional 33,200 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, 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 filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total transaction of $844,900.00. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,730 shares of company stock valued at $31,063,449. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of several recent analyst reports. Mizuho increased their target price on shares of Micron Technology from $150.00 to $155.00 and gave the stock 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. KeyCorp increased their price target on shares of Micron Technology from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday. Citigroup increased their price target on shares of Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, TD Cowen increased their price target on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $158.72.

Micron Technology Trading Up 2.7 %

Micron Technology stock traded up $3.54 during trading hours on Friday, reaching $133.77. The stock had a trading volume of 8,813,438 shares, compared to its average volume of 20,758,822. The stock has a market cap of $148.33 billion, a PE ratio of -94.42 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $61.75 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The company has a fifty day simple moving average of $131.84 and a 200-day simple moving average of $109.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) 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 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 company’s revenue was up 81.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.57) EPS. Analysts forecast that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.34%. 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.