Silver Lake Advisory LLC Takes $512,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Silver Lake Advisory LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,892 shares of the semiconductor manufacturer’s stock, valued at approximately $512,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidemark LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth $25,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology in the 1st quarter worth $25,000. Pingora Partners LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth $29,000. Finally, Valued Wealth Advisors LLC increased its stake in shares of Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $132.14, for a total transaction of $924,980.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $95,015,134.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $132.14, for a total transaction of $924,980.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $95,015,134.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,174 shares of company stock worth $9,528,693. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $1.04 on Friday, hitting $107.99. 18,353,839 shares of the company were exchanged, compared to its average volume of 21,450,379. Micron Technology, Inc. has a 1-year low of $61.75 and a 1-year high of $157.54. The stock’s 50 day moving average price is $121.81 and its 200 day moving average price is $113.14. 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 $119.74 billion, a P/E ratio of -76.05 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.57) earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MU. The Goldman Sachs Group increased their price target on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Citigroup increased their price target on Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Bank of America increased their price target on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. TD Cowen increased their price target on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Morgan Stanley raised their price objective on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.92.

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.