GAMMA Investing LLC Has $1.83 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

GAMMA Investing LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 43.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,910 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,240 shares during the quarter. GAMMA Investing LLC’s holdings in Micron Technology were worth $1,830,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after purchasing an additional 1,681,815 shares during the period. Capital World Investors raised its stake in shares of Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares during the period. Sanders Capital LLC raised its stake in shares of Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after purchasing an additional 503,923 shares during the period. Capital International Investors raised its stake in shares of Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Micron Technology by 22.2% during the 1st 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. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other news, EVP Sumit Sadana sold 13,239 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the sale, the executive vice president now owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Sumit Sadana sold 13,239 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the sale, the executive vice president now owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 174,730 shares of company stock valued at $22,485,299 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of a number of research reports. Citigroup boosted their price objective on Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Morgan Stanley lifted their target price on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 24th. Wells Fargo & Company lifted their target price on Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of Micron Technology in a report on Tuesday, June 25th. Finally, Raymond James lifted their target price on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.72.

Micron Technology Trading Down 8.7 %

NASDAQ:MU traded down $8.81 during trading hours on Friday, hitting $92.70. The company had a trading volume of 36,039,440 shares, compared to its average volume of 23,484,150. 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 company has a 50-day moving average of $128.53 and a 200 day moving average of $112.94. The company has a market cap of $102.79 billion, a P/E ratio of -65.28 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $61.75 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion during 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 company’s revenue was up 81.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.57) EPS. Sell-side analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a $0.115 dividend. 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 dividend payout ratio is currently -32.39%.

About Micron Technology

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.