Means Investment CO. Inc. Trims Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Means Investment CO. Inc. reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,385 shares of the semiconductor manufacturer’s stock after selling 343 shares during the quarter. Means Investment CO. Inc.’s holdings in Micron Technology were worth $445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MU. Vanguard Group Inc. lifted its position in Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after buying an additional 1,681,815 shares during the last quarter. Capital World Investors boosted its holdings in shares of Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after buying an additional 1,400,154 shares in the last quarter. Sanders Capital LLC grew its holdings in Micron Technology by 2.3% in the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after purchasing an additional 503,923 shares during the period. Capital International Investors increased its stake in shares of 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 purchasing an additional 2,397,885 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Morgan Stanley increased their price objective on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. lifted their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Mizuho upped their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, UBS Group dropped their price target on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.92.

Micron Technology Stock Up 0.6 %

NASDAQ:MU traded up $0.64 during midday trading on Monday, reaching $108.63. 15,685,590 shares of the stock traded hands, compared to its average volume of 21,414,213. The stock has a market capitalization of $120.45 billion, a PE ratio of -75.80 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $62.63 and a 12-month high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The business has a 50-day moving average of $121.81 and a two-hundred day moving average of $113.53.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating 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 company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the business posted ($1.57) earnings per share. The firm’s revenue was up 81.5% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction 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 completion of the transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $132.14, for a total transaction of $924,980.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $95,015,134.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,174 shares of company stock valued at $9,528,693. Company insiders own 0.32% 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.