Nadler Financial Group Inc. Acquires 302 Shares of Micron Technology, Inc. (NASDAQ:MU)

Nadler Financial Group Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 12.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,725 shares of the semiconductor manufacturer’s stock after buying an additional 302 shares during the quarter. Nadler Financial Group Inc.’s holdings in Micron Technology were worth $358,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MU. Tidemark LLC bought a new stake in Micron Technology during the 4th quarter valued at $25,000. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology in the 1st quarter worth about $25,000. Pingora Partners LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the second quarter valued at about $28,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $29,000. 80.84% of the stock is owned by institutional investors.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $132.14, for a total value of $924,980.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $95,015,134.86. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $132.14, for a total value of $924,980.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $95,015,134.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,174 shares of company stock valued at $8,635,073. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MU. Stifel Nicolaus upped their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Wells Fargo & Company raised their price target on Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Morgan Stanley raised their price target on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. KeyCorp lowered their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of Micron Technology in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $157.92.

Micron Technology Stock Down 0.6 %

Micron Technology stock traded down $0.64 during mid-day trading on Tuesday, reaching $107.99. 16,033,111 shares of the company’s stock were exchanged, compared to its average volume of 21,381,037. Micron Technology, Inc. has a twelve month low of $62.63 and a twelve month high of $157.54. The company has a fifty day moving average of $121.29 and a 200-day moving average of $113.69. 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 company has a market cap of $119.74 billion, a P/E ratio of -76.46 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued 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. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s revenue was up 81.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.57) earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

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