Diversify Advisory Services LLC Buys 2,528 Shares of Micron Technology, Inc. (NASDAQ:MU)

Diversify Advisory Services LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 42.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,479 shares of the semiconductor manufacturer’s stock after buying an additional 2,528 shares during the quarter. Diversify Advisory Services LLC’s holdings in Micron Technology were worth $1,112,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Micron Technology by 15.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 255,840 shares of the semiconductor manufacturer’s stock valued at $21,833,000 after acquiring an additional 33,493 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $81,000. Sequoia Financial Advisors LLC raised its position in shares of Micron Technology by 81.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 43,753 shares of the semiconductor manufacturer’s stock valued at $3,734,000 after buying an additional 19,621 shares in the last quarter. Sandy Spring Bank grew its position in Micron Technology by 11.1% during the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after buying an additional 130 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in Micron Technology by 148.0% during the 4th quarter. Cerity Partners LLC now owns 30,690 shares of the semiconductor manufacturer’s stock worth $2,619,000 after acquiring an additional 18,316 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,174 shares of company stock worth $13,716,343. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 1.1 %

NASDAQ MU traded up $1.01 during trading hours on Friday, hitting $93.08. The company’s stock had a trading volume of 21,627,209 shares, compared to its average volume of 21,416,703. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company’s 50-day simple moving average is $124.66 and its two-hundred day simple moving average is $112.87. The company has a market capitalization of $103.21 billion, a PE ratio of -65.55 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $61.75 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue was up 81.5% on a year-over-year basis. During the same period last year, the business earned ($1.57) EPS. Research analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s payout ratio is currently -32.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. The Goldman Sachs Group upped their target price on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Susquehanna lifted their price target on Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a research note on Monday, June 17th. Stifel Nicolaus upped their price objective on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, Bank of America raised their price objective on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.92.

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.