1,607 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Atlas Private Wealth Advisors

Atlas Private Wealth Advisors purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,607 shares of the semiconductor manufacturer’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $769,372,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. California Public Employees Retirement System raised its position in shares of Micron Technology by 125.0% in the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after buying an additional 2,523,267 shares in the last quarter. Capital International Investors boosted its stake in shares of Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 shares during the period. Finally, 1832 Asset Management L.P. grew its position in Micron Technology by 301,500.0% during the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after buying an additional 1,809,000 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MU. Robert W. Baird upped their price target on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Cantor Fitzgerald upped their price objective on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Wells Fargo & Company boosted their target price on Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Mizuho raised their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Bank of America lifted their price target on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.92.

Micron Technology Stock Up 1.1 %

Shares of MU stock traded up $1.01 during trading hours on Friday, reaching $93.08. 21,627,209 shares of the company’s stock were exchanged, compared to its average volume of 21,416,703. The stock’s 50 day moving average is $124.66 and its 200-day moving average is $112.87. Micron Technology, Inc. has a fifty-two week low of $61.75 and a fifty-two week high of $157.54. The company has a market cap of $103.21 billion, a price-to-earnings ratio of -65.55 and a beta of 1.18. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.57) earnings per share. Analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. Micron Technology’s payout ratio is -32.39%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $109,496,781.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, 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. Insiders sold a total of 101,174 shares of company stock valued at $13,716,343 in the last three months. 0.32% of the stock is currently owned by corporate insiders.

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.