Peak Financial Advisors LLC Purchases Shares of 11,526 Micron Technology, Inc. (NASDAQ:MU)

Peak Financial Advisors LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, Holdings Channel reports. The firm acquired 11,526 shares of the semiconductor manufacturer’s stock, valued at approximately $1,516,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Management Partners LLC boosted its stake in shares of Micron Technology by 36.7% during the 2nd quarter. Wealth Management Partners LLC now owns 10,603 shares of the semiconductor manufacturer’s stock worth $1,395,000 after acquiring an additional 2,844 shares during the period. Diversify Advisory Services LLC boosted its holdings in shares of Micron Technology by 42.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 8,479 shares of the semiconductor manufacturer’s stock worth $1,112,000 after buying an additional 2,528 shares during the period. Gateway Investment Advisers LLC grew its stake in Micron Technology by 273.9% in the 2nd quarter. Gateway Investment Advisers LLC now owns 219,939 shares of the semiconductor manufacturer’s stock valued at $28,929,000 after buying an additional 161,122 shares during the last quarter. Atlas Private Wealth Advisors acquired a new stake in Micron Technology during the second quarter worth approximately $211,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Micron Technology by 534.9% in the second quarter. Wolff Wiese Magana LLC now owns 1,092 shares of the semiconductor manufacturer’s stock valued at $144,000 after purchasing an additional 920 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

In related news, EVP Sumit Sadana sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $123.01, for a total value of $1,476,120.00. Following the sale, the executive vice president now directly owns 218,048 shares in the company, valued at $26,822,084.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $122.89, for a total value of $860,230.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $88,363,931.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Sumit Sadana sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $123.01, for a total value of $1,476,120.00. Following the transaction, the executive vice president now directly owns 218,048 shares in the company, valued at $26,822,084.48. The disclosure for this sale can be found here. Insiders have sold 101,174 shares of company stock worth $13,716,343 over the last ninety days. Insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 1.1 %

Shares of NASDAQ MU traded up $1.01 during trading on Friday, reaching $93.08. The company had a trading volume of 21,627,209 shares, compared to its average volume of 21,416,703. Micron Technology, Inc. has a 12 month low of $61.75 and a 12 month high of $157.54. 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 stock has a market cap of $103.21 billion, a P/E ratio of -65.55 and a beta of 1.18. The company’s fifty day moving average price is $124.66 and its 200-day moving average price is $112.87.

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

Micron Technology Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Mizuho upped their price objective on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 31st. TD Cowen boosted their price target on Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. UBS Group dropped their price objective on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Wolfe Research raised their price target on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Cantor Fitzgerald increased their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $157.92.

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 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.