Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Diversified Trust Co

Diversified Trust Co lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 746.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,207 shares of the semiconductor manufacturer’s stock after buying an additional 14,292 shares during the quarter. Diversified Trust Co’s holdings in Micron Technology were worth $2,132,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Atria Investments Inc raised its position in shares of Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares in the last quarter. Aspect Partners LLC raised its position in shares of Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after acquiring an additional 94 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares during the period. Retirement Group LLC increased its position in Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 100 shares during the period. Finally, AIA Group Ltd increased its position in Micron Technology by 2.1% in the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock worth $568,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $132.14, for a total transaction of $924,980.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $95,015,134.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $132.14, for a total transaction of $924,980.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $95,015,134.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’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 transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,174 shares of company stock worth $9,528,693. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $1.39 during trading on Wednesday, hitting $98.83. 6,692,026 shares of the stock were exchanged, compared to its average volume of 21,319,988. 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 company has a market capitalization of $109.59 billion, a price-to-earnings ratio of -68.62 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $61.75 and a 1-year high of $157.54. The company’s fifty day simple moving average is $123.40 and its 200-day simple moving average is $113.14.

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. Sell-side analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given 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 0.47%. Micron Technology’s payout ratio is -32.39%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MU. TD Cowen increased their target price on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. increased their price target on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Mizuho increased their price target on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Stifel Nicolaus increased their price target on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price target on shares of Micron Technology in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $157.92.

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.