Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 62.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,895 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,173 shares during the quarter. Moors & Cabot Inc.’s holdings in Micron Technology were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the second quarter worth about $28,000. DecisionPoint Financial LLC acquired a new position in Micron Technology during the 1st quarter worth approximately $25,000. Valued Wealth Advisors LLC raised 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 in the last quarter. Richard W. Paul & Associates LLC lifted its holdings in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the period. Finally, LRI Investments LLC lifted its holdings in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $88.73 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The business has a 50 day moving average price of $102.46 and a two-hundred day moving average price of $114.96. The firm has a market cap of $98.39 billion, a PE ratio of -62.49 and a beta of 1.17.

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 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 business’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter last year, the company earned ($1.57) earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s payout ratio is -32.39%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’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 sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Raymond James cut their price objective on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. Stifel Nicolaus increased their price target on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. KeyCorp reduced their price objective on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Mizuho upped their target price on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Susquehanna reduced their price target on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $149.12.

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.