Nwam LLC Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Nwam LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,917 shares of the semiconductor manufacturer’s stock after buying an additional 346 shares during the period. Nwam LLC’s holdings in Micron Technology were worth $373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Level Four Advisory Services LLC lifted its position in shares of Micron Technology by 0.5% in the second quarter. Level Four Advisory Services LLC now owns 68,671 shares of the semiconductor manufacturer’s stock valued at $4,334,000 after acquiring an additional 356 shares in the last quarter. MGO One Seven LLC acquired a new position in Micron Technology in the 1st quarter valued at $371,000. Yong Rong HK Asset Management Ltd purchased a new position in Micron Technology in the 2nd quarter valued at $6,311,000. Pathway Financial Advisors LLC acquired a new stake in Micron Technology during the 2nd quarter worth $200,000. Finally, Berkshire Asset Management LLC PA purchased a new stake in shares of Micron Technology during the first quarter worth $265,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MU. Evercore ISI boosted their price target on shares of Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 26th. Morgan Stanley boosted their target price on Micron Technology from $46.00 to $58.50 and gave the stock an “underweight” rating in a report on Monday, September 25th. JPMorgan Chase & Co. increased their price target on Micron Technology from $75.00 to $80.00 in a report on Thursday, September 28th. Wedbush reiterated an “outperform” rating and set a $80.00 price objective on shares of Micron Technology in a research report on Thursday, September 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of Micron Technology in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $77.75.

Micron Technology Price Performance

MU stock opened at $77.56 on Friday. The business’s fifty day moving average price is $69.97 and its 200 day moving average price is $67.53. Micron Technology, Inc. has a 12-month low of $48.43 and a 12-month high of $77.94. The company has a market capitalization of $85.16 billion, a PE ratio of -14.52 and a beta of 1.30. The company has a current ratio of 4.46, a quick ratio of 2.70 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 27th. The semiconductor manufacturer reported ($1.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.08. Micron Technology had a negative net margin of 37.53% and a negative return on equity of 11.65%. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. The business’s revenue for the quarter was down 39.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post -2.52 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Tuesday, October 10th were given a $0.115 dividend. The ex-dividend date was Friday, October 6th. This represents a $0.46 annualized dividend and a yield of 0.59%. Micron Technology’s dividend payout ratio is presently -8.61%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 22,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $76.94, for a total transaction of $1,692,680.00. Following the sale, the chief executive officer now owns 748,759 shares in the company, valued at approximately $57,609,517.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP April S. Arnzen sold 3,508 shares of Micron Technology stock in a transaction on Monday, October 16th. The shares were sold at an average price of $69.71, for a total transaction of $244,542.68. Following the completion of the sale, the executive vice president now directly owns 155,352 shares of the company’s stock, valued at approximately $10,829,587.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 22,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $76.94, for a total transaction of $1,692,680.00. Following the transaction, the chief executive officer now owns 748,759 shares of the company’s stock, valued at approximately $57,609,517.46. The disclosure for this sale can be found here. Insiders sold a total of 148,390 shares of company stock worth $10,401,733 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

About Micron Technology

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.