Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,097 shares of the semiconductor manufacturer’s stock after selling 3,384 shares during the quarter. Micron Technology comprises approximately 0.8% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 28th biggest holding. Global X Japan Co. Ltd.’s holdings in Micron Technology were worth $5,537,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology in the 2nd quarter valued at $28,000. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology during the 1st quarter valued at about $25,000. Valued Wealth Advisors LLC raised its stake in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC lifted its holdings in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the period. Finally, LRI Investments LLC boosted its stake in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of MU stock opened at $86.27 on Tuesday. 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 firm has a market cap of $95.66 billion, a P/E ratio of -60.75 and a beta of 1.17. The firm’s 50 day moving average price is $107.82 and its 200-day moving average price is $115.04. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.57) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.61 EPS 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. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.53%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MU. Citigroup raised their price target 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. Wells Fargo & Company lifted their price target on Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Barclays increased their price target on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Morgan Stanley boosted 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. Finally, Wedbush reiterated an “outperform” rating and set a $170.00 target price on shares of Micron Technology in a research report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.12.

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.