Micron Technology, Inc. (NASDAQ:MU) Stake Increased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 20.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,323 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,067 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Micron Technology were worth $2,410,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. AGF Management Ltd. purchased a new stake in shares of Micron Technology during the fourth quarter worth $1,170,000. Johnson Investment Counsel Inc. raised its holdings in Micron Technology by 66.6% during the fourth quarter. Johnson Investment Counsel Inc. now owns 5,068 shares of the semiconductor manufacturer’s stock valued at $433,000 after buying an additional 2,026 shares in the last quarter. Jump Financial LLC raised its holdings in Micron Technology by 459.1% during the fourth quarter. Jump Financial LLC now owns 17,093 shares of the semiconductor manufacturer’s stock valued at $1,459,000 after buying an additional 14,036 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Micron Technology by 4.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 58,075 shares of the semiconductor manufacturer’s stock valued at $4,956,000 after buying an additional 2,689 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in Micron Technology by 18.6% during the fourth quarter. Ieq Capital LLC now owns 45,581 shares of the semiconductor manufacturer’s stock valued at $3,890,000 after buying an additional 7,153 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Micron Technology Stock Down 0.1 %

NASDAQ MU opened at $86.27 on Tuesday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average is $107.82 and its two-hundred day moving average is $115.04. The company has a market capitalization of $95.66 billion, a price-to-earnings ratio of -60.75 and a beta of 1.17. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the business earned ($1.57) earnings per share. Equities analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MU. Morgan Stanley raised their target price on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 24th. Needham & Company LLC cut their target price on Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Stifel Nicolaus raised their target price on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. TD Cowen raised their target price on Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.12.

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.