Klein Pavlis & Peasley Financial Inc. Acquires Shares of 1,764 Micron Technology, Inc. (NASDAQ:MU)

Klein Pavlis & Peasley Financial Inc. acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, HoldingsChannel reports. The firm acquired 1,764 shares of the semiconductor manufacturer’s stock, valued at approximately $232,000.

Several other large investors have also recently added to or reduced their stakes in MU. Atria Wealth Solutions Inc. increased its stake in shares of Micron Technology by 11.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 67,657 shares of the semiconductor manufacturer’s stock worth $5,777,000 after purchasing an additional 7,114 shares during the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of Micron Technology during the 4th quarter worth about $225,000. Gilliland Jeter Wealth Management LLC bought a new position in shares of Micron Technology during the 4th quarter worth about $555,000. Parametrica Management Ltd bought a new position in shares of Micron Technology during the 4th quarter worth about $1,016,000. Finally, Intellectus Partners LLC lifted its holdings in shares of Micron Technology by 26.1% during the 4th quarter. Intellectus Partners LLC now owns 68,015 shares of the semiconductor manufacturer’s stock worth $5,812,000 after acquiring an additional 14,095 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded down $1.05 on Tuesday, hitting $97.86. The company had a trading volume of 16,806,270 shares, compared to its average volume of 21,345,770. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The stock has a market cap of $108.51 billion, a price-to-earnings ratio of -68.92 and a beta of 1.18. The stock has a 50 day moving average price of $117.57 and a 200 day moving average price of $114.35. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

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 the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the company posted ($1.57) earnings per share. Micron Technology’s revenue was up 81.5% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred 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 completion of 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 accessible through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 719,049 shares in the company, valued at $109,496,781.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,174 shares of company stock valued at $8,635,073. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MU has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of Micron Technology in a report on Tuesday, June 25th. Robert W. Baird lifted their price target on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Citigroup raised their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, UBS Group lowered their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.12.

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.