Mount Yale Investment Advisors LLC Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Mount Yale Investment Advisors LLC lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 60.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,548 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,609 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Micron Technology were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. Norges Bank bought a new position in Micron Technology in the fourth quarter valued at about $769,372,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after buying an additional 3,315,988 shares during the last quarter. California Public Employees Retirement System grew its position in Micron Technology by 125.0% during the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after buying an additional 2,523,267 shares during the period. Capital International Investors increased its holdings in Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Micron Technology by 301,500.0% in the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after acquiring an additional 1,809,000 shares during the period. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MU shares. Susquehanna raised their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research note on Monday, June 17th. UBS Group decreased their target price on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of Micron Technology in a research report on Thursday, June 27th. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of Micron Technology in a research note on Tuesday, June 25th. Finally, Needham & Company LLC increased their price target on Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.72.

Insider Transactions at Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Sumit Sadana sold 13,239 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the sale, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,730 shares of company stock valued at $29,435,039. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 1.4 %

NASDAQ:MU traded down $1.56 during mid-day trading on Monday, reaching $107.85. The company’s stock had a trading volume of 13,435,059 shares, compared to its average volume of 20,964,211. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $119.59 billion, a PE ratio of -76.57 and a beta of 1.18. The stock has a fifty day moving average of $131.01 and a 200-day moving average of $112.25. Micron Technology, Inc. has a 1 year low of $61.75 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the firm posted ($1.57) earnings per share. Micron Technology’s revenue for the quarter was up 81.5% compared to the same quarter last year. Equities research analysts forecast that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

Micron Technology Company 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.