Carson Advisory Inc. Sells 1,332 Shares of Micron Technology, Inc. (NASDAQ:MU)

Carson Advisory Inc. decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,017 shares of the semiconductor manufacturer’s stock after selling 1,332 shares during the period. Carson Advisory Inc.’s holdings in Micron Technology were worth $791,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Hobbs Group Advisors LLC bought a new position in Micron Technology during the 2nd quarter worth approximately $28,000. DecisionPoint Financial LLC bought a new stake in Micron Technology in the first quarter valued at approximately $25,000. Valued Wealth Advisors LLC raised its holdings in 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 purchasing an additional 173 shares during the period. Richard W. Paul & Associates LLC boosted its position in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Finally, LRI Investments LLC grew its holdings in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 0.7 %

NASDAQ MU opened at $86.85 on Wednesday. The company has a market cap of $96.30 billion, a PE ratio of -61.16 and a beta of 1.17. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54. The stock has a 50 day moving average of $106.90 and a 200-day moving average of $115.04. 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 announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The company 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 quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.57) EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm 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 0.53%. Micron Technology’s dividend payout ratio is -32.39%.

Wall Street Analyst Weigh In

MU has been the topic of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of Micron Technology in a research note on Tuesday, June 25th. The Goldman Sachs Group lifted their price objective on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Raymond James boosted their price objective on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. increased their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Micron Technology in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.12.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction dated Tuesday, June 18th. The shares were 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 approximately $109,496,781.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 of the company’s stock, valued at $19,335,731.06. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

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.