2,222 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by 1ST Source Bank

1ST Source Bank acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,222 shares of the semiconductor manufacturer’s stock, valued at approximately $292,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SYM FINANCIAL Corp acquired a new stake in shares of Micron Technology during the second quarter valued at approximately $225,000. HBK Sorce Advisory LLC raised its stake in Micron Technology by 16.8% during the 2nd quarter. HBK Sorce Advisory LLC now owns 5,161 shares of the semiconductor manufacturer’s stock valued at $679,000 after purchasing an additional 743 shares during the period. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Micron Technology in the second quarter valued at $1,210,000. Meeder Advisory Services Inc. boosted its position in shares of Micron Technology by 36.8% in the second quarter. Meeder Advisory Services Inc. now owns 19,194 shares of the semiconductor manufacturer’s stock worth $2,525,000 after buying an additional 5,163 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Micron Technology by 4.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,023,964 shares of the semiconductor manufacturer’s stock valued at $136,527,000 after buying an additional 43,179 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $170.00 target price on shares of Micron Technology in a research report on Thursday, June 27th. Susquehanna dropped their price objective on Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research note on Thursday, August 22nd. The Goldman Sachs Group upped their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company boosted 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. Finally, Morgan Stanley increased their price objective on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.31.

Insider Buying and Selling at Micron Technology

In related news, 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 transaction of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were 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 approximately $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 4.6 %

Shares of MU stock opened at $91.22 on Friday. Micron Technology, Inc. has a 52-week low of $63.83 and a 52-week high of $157.54. The business’s fifty day moving average is $104.18 and its 200 day moving average is $114.85. 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 company has a market capitalization of $101.15 billion, a PE ratio of -64.24 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its 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. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s revenue was up 81.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.57) earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed 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 0.50%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is currently -32.39%.

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.