Micron Technology, Inc. (NASDAQ:MU) Stake Raised by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,458 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,383 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Micron Technology were worth $7,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidemark LLC bought a new stake in Micron Technology during the fourth quarter worth about $25,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the 1st quarter worth about $25,000. Pingora Partners LLC bought a new position in Micron Technology during the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC boosted 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 worth $29,000 after buying an additional 173 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction 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 completion of the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were 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 owns 719,049 shares in the company, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Insiders sold 250,730 shares of company stock valued at $31,063,449 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Micron Technology Stock Up 2.5 %

Shares of NASDAQ:MU traded up $3.32 during trading hours on Friday, hitting $133.55. The company’s stock had a trading volume of 19,692,516 shares, compared to its average volume of 20,844,576. The company has a market capitalization of $148.09 billion, a price-to-earnings ratio of -94.42 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $61.75 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The firm’s fifty day moving average price is $131.84 and its 200 day moving average price is $109.29.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the firm earned ($1.57) EPS. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. As a group, research analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MU. The Goldman Sachs Group lifted their price target on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of Micron Technology in a report on Tuesday, June 25th. Morgan Stanley upped their price target 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. Needham & Company LLC upped their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Piper Sandler increased their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $158.72.

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.