Financial Sense Advisors Inc. Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Financial Sense Advisors Inc. lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,305 shares of the semiconductor manufacturer’s stock after buying an additional 454 shares during the quarter. Micron Technology makes up 2.0% of Financial Sense Advisors Inc.’s holdings, making the stock its 11th largest holding. Financial Sense Advisors Inc.’s holdings in Micron Technology were worth $6,166,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MU. Revolve Wealth Partners LLC grew its holdings in Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares during the last quarter. Sandy Spring Bank lifted its position in shares of Micron Technology by 11.1% in the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after purchasing an additional 130 shares during the period. First Affirmative Financial Network lifted its position in Micron Technology by 4.7% during the first quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock valued at $347,000 after acquiring an additional 131 shares during the last quarter. HMS Capital Management LLC grew its position in Micron Technology by 0.7% during the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after buying an additional 138 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in shares of Micron Technology by 11.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock valued at $121,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $136.82 on Thursday. The business has a fifty day simple moving average of $128.92 and a 200 day simple moving average of $107.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $151.71 billion, a price-to-earnings ratio of -96.35 and a beta of 1.18. Micron Technology, Inc. has a one year low of $60.50 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last issued 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 during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s revenue was up 81.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.57) earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.34%. Micron Technology’s dividend payout ratio is currently -32.39%.

Insiders Place Their Bets

In other news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total value of $858,200.00. Following the transaction, the chief executive officer now owns 728,557 shares in the company, valued at $89,321,088.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. Insiders sold 257,730 shares of company stock worth $31,921,649 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MU has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Wolfe Research boosted their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Citigroup boosted their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Cantor Fitzgerald upped their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.52.

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.