Twin Capital Management Inc. Acquires Shares of 15,981 Micron Technology, Inc. (NASDAQ:MU)

Twin Capital Management Inc. bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,981 shares of the semiconductor manufacturer’s stock, valued at approximately $1,884,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Everhart Financial Group Inc. bought a new position in Micron Technology in the 4th quarter worth about $281,000. Premier Path Wealth Partners LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $346,000. Mutual Advisors LLC grew its stake in Micron Technology by 6.3% during the fourth quarter. Mutual Advisors LLC now owns 10,933 shares of the semiconductor manufacturer’s stock valued at $933,000 after acquiring an additional 645 shares in the last quarter. Cooper Financial Group increased its holdings in Micron Technology by 5.7% during the 4th quarter. Cooper Financial Group now owns 10,035 shares of the semiconductor manufacturer’s stock worth $856,000 after acquiring an additional 545 shares during the period. Finally, CoreCap Advisors LLC lifted its stake in Micron Technology by 226.2% in the 4th quarter. CoreCap Advisors LLC now owns 27,232 shares of the semiconductor manufacturer’s stock worth $2,324,000 after purchasing an additional 18,884 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $114.87, for a total value of $804,090.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $82,597,158.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 236,730 shares of company stock valued at $29,435,039. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup raised their price target on Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, June 24th. Wedbush reiterated an “outperform” rating and set a $170.00 target price on shares of Micron Technology in a research report on Thursday, June 27th. UBS Group cut their price target on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. The Goldman Sachs Group raised their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.72.

Micron Technology Price Performance

MU traded down $3.97 during trading on Wednesday, reaching $110.28. 25,174,640 shares of the stock were exchanged, compared to its average volume of 20,979,580. The company has a market capitalization of $122.28 billion, a price-to-earnings ratio of -77.66 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a 1 year low of $61.75 and a 1 year high of $157.54. The business’s 50 day moving average price is $131.74 and its two-hundred day moving average price is $111.70.

Micron Technology (NASDAQ:MU) last released 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. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period in the previous year, the company earned ($1.57) EPS. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.42%. Micron Technology’s dividend payout ratio is presently -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.