Continental Investors Services Inc. purchased a new position in Micron Technology, Inc. (NASDAQ:MU – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,600 shares of the semiconductor manufacturer’s stock, valued at approximately $557,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Washington Trust Advisors Inc. raised its holdings in shares of Micron Technology by 59.2% during the 3rd quarter. Washington Trust Advisors Inc. now owns 551 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 205 shares in the last quarter. Wagner Wealth Management LLC purchased a new position in shares of Micron Technology during the second quarter worth approximately $29,000. Sound Income Strategies LLC lifted its holdings in shares of Micron Technology by 207.0% in the 3rd quarter. Sound Income Strategies LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $35,000 after acquiring an additional 476 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Micron Technology by 44.7% in the 3rd quarter. Financial Management Professionals Inc. now owns 689 shares of the semiconductor manufacturer’s stock worth $35,000 after acquiring an additional 213 shares during the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of Micron Technology in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.
Insider Buying and Selling at Micron Technology
In related news, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $62.23, for a total value of $1,244,600.00. Following the transaction, the executive vice president now owns 248,340 shares of the company’s stock, valued at $15,454,198.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $62.23, for a total value of $1,244,600.00. Following the completion of the sale, the executive vice president now directly owns 248,340 shares in the company, valued at approximately $15,454,198.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP April S. Arnzen sold 24,000 shares of the business’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $61.91, for a total value of $1,485,840.00. Following the sale, the senior vice president now directly owns 118,885 shares of the company’s stock, valued at approximately $7,360,170.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,000 shares of company stock valued at $3,982,190. 0.33% of the stock is owned by company insiders.
Micron Technology Price Performance
Micron Technology (NASDAQ:MU – Get Rating) last issued its earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.14 billion. Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. Micron Technology’s quarterly revenue was down 46.9% compared to the same quarter last year. During the same period last year, the firm posted $2.07 EPS. As a group, research analysts expect that Micron Technology, Inc. will post -2.71 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 19th. Investors of record on Tuesday, January 3rd were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, December 30th. Micron Technology’s dividend payout ratio (DPR) is presently 8.35%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on MU shares. Credit Suisse Group set a $66.00 target price on Micron Technology in a research note on Tuesday, January 3rd. UBS Group dropped their price objective on Micron Technology from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, December 22nd. Argus downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 30th. Raymond James assumed coverage on shares of Micron Technology in a report on Wednesday, March 1st. They set an “outperform” rating and a $70.00 price target for the company. Finally, Cowen cut their price target on shares of Micron Technology from $70.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, December 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.26.
Micron Technology Company Profile
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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