Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,421 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,774 shares during the period. Oppenheimer & Co. Inc.’s holdings in Micron Technology were worth $9,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in MU. Vanguard Group Inc. raised its stake in Micron Technology by 1.8% in the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after buying an additional 1,681,815 shares in the last quarter. Capital World Investors raised its position 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 acquiring an additional 1,400,154 shares in the last quarter. Sanders Capital LLC lifted its stake in Micron Technology by 2.3% during the fourth 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 last quarter. Capital International Investors boosted its holdings in 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 purchasing an additional 2,397,885 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in 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 in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on 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 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 the SEC website. In other news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the 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 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. 0.32% of the stock is currently owned by insiders.

Micron Technology Trading Up 4.6 %

Shares of Micron Technology stock opened at $91.22 on Friday. The company has a 50-day moving average of $104.18 and a two-hundred day moving average of $114.69. The stock has a market cap of $101.15 billion, a PE ratio of -64.24 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54.

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 the consensus estimate of $0.48 by $0.14. The firm 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%. Micron Technology’s 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. On average, research analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s payout ratio is -32.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $140.00 to $67.00 in a research report on Thursday. Raymond James decreased their target price on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday. Mizuho boosted their price objective on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Susquehanna dropped their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.31.

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.