L & S Advisors Inc Grows Position in Micron Technology, Inc. (NASDAQ:MU)

L & S Advisors Inc raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 85.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 56,145 shares of the semiconductor manufacturer’s stock after buying an additional 25,869 shares during the quarter. Micron Technology makes up about 0.8% of L & S Advisors Inc’s holdings, making the stock its 29th largest holding. L & S Advisors Inc’s holdings in Micron Technology were worth $7,385,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MU. Atria Investments Inc increased its stake in Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 93 shares in the last quarter. Aspect Partners LLC boosted its holdings in shares of Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after purchasing an additional 98 shares during the last quarter. Ameritas Advisory Services LLC boosted its stake in shares of Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after purchasing an additional 98 shares during the period. Finally, LRI Investments LLC grew its holdings in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The stock was 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 in the company, valued at $19,335,731.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on MU. Susquehanna lowered their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research report on Thursday, August 22nd. Raymond James reduced their price objective on Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. UBS Group lowered their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, June 27th. The Goldman Sachs Group raised their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, KeyCorp dropped their target price on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.77.

Micron Technology Trading Down 4.4 %

NASDAQ MU opened at $87.18 on Tuesday. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The company has a fifty day simple moving average of $103.31 and a two-hundred day simple moving average of $115.01. 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 has a market cap of $96.67 billion, a P/E ratio of -61.39 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the firm earned ($1.57) earnings per share. Micron Technology’s revenue for the quarter was up 81.5% on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. Micron Technology’s dividend payout ratio (DPR) 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.