ORG Partners LLC Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

ORG Partners LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 579.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,200 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,876 shares during the period. ORG Partners LLC’s holdings in Micron Technology were worth $289,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tidemark LLC bought a new position in Micron Technology in the fourth quarter worth about $25,000. DecisionPoint Financial LLC bought a new position in Micron Technology in the first quarter worth about $25,000. Pingora Partners LLC bought a new position in Micron Technology in the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new position in Micron Technology in the fourth quarter worth about $29,000. Finally, Valued Wealth Advisors LLC raised its stake in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

MU traded up $2.97 during trading on Wednesday, hitting $100.41. The company’s stock had a trading volume of 22,362,189 shares, compared to its average volume of 21,420,438. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a one year low of $61.75 and a one year high of $157.54. The firm has a market cap of $111.34 billion, a PE ratio of -70.94 and a beta of 1.18. The business’s 50 day simple moving average is $123.40 and its 200-day simple moving average is $113.14.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate 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 period last year, the firm earned ($1.57) EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. Micron Technology’s payout ratio is -32.39%.

Analysts Set New Price Targets

A number of research firms recently issued reports on MU. 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 research note on Monday, June 24th. Barclays increased their price target on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Stifel Nicolaus raised their target price on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Cantor Fitzgerald raised their target price on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Finally, Piper Sandler raised their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.92.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $127.66, for a total value of $893,620.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $91,793,795.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on 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 sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. Insiders have sold 67,174 shares of company stock worth $9,528,693 in the last three months. Company insiders own 0.32% of the company’s stock.

Micron Technology Company 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.