Hoylecohen LLC Purchases 1,201 Shares of Micron Technology, Inc. (NASDAQ:MU)

Hoylecohen LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 47.6% during the 2nd quarter, Holdings Channel reports. The firm owned 3,724 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,201 shares during the period. Hoylecohen LLC’s holdings in Micron Technology were worth $490,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. DecisionPoint Financial LLC bought a new position in Micron Technology in the 1st quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares in the last quarter. Tidemark LLC bought a new position in shares of Micron Technology during the fourth quarter worth $25,000. Pingora Partners LLC purchased a new position in Micron Technology during the fourth quarter valued at $26,000. Finally, Robbins Farley bought a new stake in Micron Technology in the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at $109,496,781.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders sold a total of 67,174 shares of company stock worth $9,528,693 in the last three months. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of MU traded up $1.04 during trading hours on Friday, reaching $107.99. 18,383,278 shares of the company traded hands, compared to its average volume of 21,450,379. 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 business has a fifty day moving average price of $121.81 and a 200-day moving average price of $113.33. Micron Technology, Inc. has a 12-month low of $61.75 and a 12-month high of $157.54. The stock has a market capitalization of $119.74 billion, a P/E ratio of -76.05 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its earnings results 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 return on equity of 4.01% and a negative net margin of 7.20%. The firm 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 company posted ($1.57) earnings per share. The company’s revenue was up 81.5% compared to the same quarter last year. Equities analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

MU has been the subject of several research reports. Citigroup increased their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, June 24th. Robert W. Baird raised their price target on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Susquehanna upped their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a report on Monday, June 17th. The Goldman Sachs Group raised their target price on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, Bank of America upped their price target on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.