Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. raised its stake in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 48.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 183,404 shares of the semiconductor manufacturer’s stock after buying an additional 60,151 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Micron Technology were worth $10,139,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Concorde Financial Corp acquired a new stake in Micron Technology during the 4th quarter valued at $27,000. SOA Wealth Advisors LLC. boosted its holdings in shares of Micron Technology by 144.9% during the first quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Vectors Research Management LLC boosted its holdings in shares of Micron Technology by 60.3% during the fourth quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 140 shares during the last quarter. Core Alternative Capital boosted its holdings in shares of Micron Technology by 912.5% during the first quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 365 shares during the last quarter. Finally, BDO Wealth Advisors LLC boosted its holdings in shares of Micron Technology by 46.7% during the first quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 79.66% of the company’s stock.

Insider Buying and Selling

In related news, SVP Michael W. Bokan sold 16,600 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $63.82, for a total transaction of $1,059,412.00. Following the sale, the senior vice president now owns 119,126 shares in the company, valued at $7,602,621.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Needham & Company LLC decreased their price objective on Micron Technology from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, July 1st. BNP Paribas assumed coverage on Micron Technology in a report on Tuesday, September 13th. They set an “outperform” rating and a $75.00 price objective on the stock. Citigroup decreased their price objective on Micron Technology from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Deutsche Bank Aktiengesellschaft reduced their target price on Micron Technology from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Finally, Mizuho cut Micron Technology from a “buy” rating to a “neutral” rating and reduced their target price for the company from $75.00 to $56.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $83.34.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $49.66 on Friday. The firm has a market cap of $54.78 billion, a PE ratio of 5.66, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. The firm’s 50-day simple moving average is $58.94 and its 200-day simple moving average is $65.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.44 and a current ratio of 3.24. Micron Technology, Inc. has a 1 year low of $49.35 and a 1 year high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last issued its earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.17. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.66 billion. Micron Technology had a net margin of 30.61% and a return on equity of 21.91%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 EPS. Equities analysts forecast that Micron Technology, Inc. will post 7.9 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Monday, July 11th were paid a dividend of $0.115 per share. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.93%. Micron Technology’s dividend payout ratio is 5.25%.

Micron Technology Company Profile

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Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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