Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Sciencast Management LP

Sciencast Management LP lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,604 shares of the semiconductor manufacturer’s stock after acquiring an additional 596 shares during the quarter. Sciencast Management LP’s holdings in Micron Technology were worth $833,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. 25 LLC acquired a new stake in Micron Technology during the 1st quarter worth approximately $25,000. Barrett & Company Inc. acquired a new stake in Micron Technology during the 1st quarter worth approximately $25,000. Fortis Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $25,000. Cascade Investment Advisors Inc. acquired a new stake in Micron Technology during the 1st quarter worth approximately $30,000. Finally, Trivant Custom Portfolio Group LLC acquired a new stake in Micron Technology during the 1st quarter worth approximately $30,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In related news, CAO Scott R. Allen sold 13,687 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $60.80, for a total value of $832,169.60. Following the completion of the transaction, the chief accounting officer now directly owns 32,094 shares of the company’s stock, valued at $1,951,315.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Scott R. Allen sold 13,687 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $60.80, for a total transaction of $832,169.60. Following the transaction, the chief accounting officer now owns 32,094 shares in the company, valued at approximately $1,951,315.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $63.93, for a total value of $447,510.00. Following the completion of the sale, the chief executive officer now directly owns 582,862 shares of the company’s stock, valued at $37,262,367.66. The disclosure for this sale can be found here. Insiders have sold a total of 226,810 shares of company stock worth $15,577,970 over the last 90 days. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $70.34 on Tuesday. The company has a 50 day simple moving average of $67.14 and a 200-day simple moving average of $64.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.26 and a quick ratio of 2.64. The firm has a market capitalization of $77.04 billion, a price-to-earnings ratio of -26.31 and a beta of 1.36. Micron Technology, Inc. has a 52-week low of $48.43 and a 52-week high of $74.77.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 28th. The semiconductor manufacturer reported ($1.43) EPS for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.18. Micron Technology had a negative return on equity of 5.40% and a negative net margin of 16.02%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the company posted $2.50 earnings per share. The firm’s revenue was down 56.6% on a year-over-year basis. Equities research analysts predict that Micron Technology, Inc. will post -5.07 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, July 10th were issued a dividend of $0.115 per share. The ex-dividend date was Friday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.65%. Micron Technology’s dividend payout ratio (DPR) is presently -17.16%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MU. Barclays raised their price objective on shares of Micron Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, September 14th. Bank of America raised their price objective on shares of Micron Technology from $68.00 to $76.00 in a report on Thursday, June 29th. BMO Capital Markets raised their price objective on shares of Micron Technology from $67.00 to $80.00 in a report on Friday, May 26th. Citigroup raised their price objective on shares of Micron Technology from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 7th. Finally, 22nd Century Group restated a “maintains” rating on shares of Micron Technology in a report on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.29.

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 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.