Foresight Global Investors Inc. Lowers Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Foresight Global Investors Inc. reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 58.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,025 shares of the semiconductor manufacturer’s stock after selling 5,625 shares during the quarter. Foresight Global Investors Inc.’s holdings in Micron Technology were worth $529,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Atria Investments Inc raised its stake in Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares in the last quarter. Aspect Partners LLC lifted its holdings in shares of Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 94 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after acquiring an additional 98 shares during the last quarter. Ameritas Advisory Services LLC grew its position in Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after acquiring an additional 98 shares in the last quarter. Finally, LRI Investments LLC increased its stake in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 4.4 %

Micron Technology stock opened at $87.18 on Tuesday. The firm has a market cap of $96.67 billion, a PE ratio of -61.39 and a beta of 1.17. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54. The stock’s 50 day simple moving average is $103.31 and its two-hundred day simple moving average is $115.01. 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 (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the business earned ($1.57) EPS. Micron Technology’s revenue for the quarter was up 81.5% compared to the same quarter last year. Analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MU shares. Needham & Company LLC cut their price objective on Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, August 26th. Mizuho increased their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Morgan Stanley lowered their price objective on shares of Micron Technology from $140.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday. Robert W. Baird increased their target price on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Finally, Wolfe Research boosted their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. 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. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $150.77.

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.