Embree Financial Group Sells 1,182 Shares of Micron Technology, Inc. (NASDAQ:MU)

Embree Financial Group decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 36.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,049 shares of the semiconductor manufacturer’s stock after selling 1,182 shares during the quarter. Embree Financial Group’s holdings in Micron Technology were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC bought a new position in shares of Micron Technology during the third quarter valued at approximately $240,000. Creative Planning raised its holdings in shares of Micron Technology by 1.0% during the third quarter. Creative Planning now owns 123,518 shares of the semiconductor manufacturer’s stock valued at $8,403,000 after acquiring an additional 1,199 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Micron Technology by 6.3% during the third quarter. Integrated Advisors Network LLC now owns 11,967 shares of the semiconductor manufacturer’s stock valued at $814,000 after acquiring an additional 705 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in shares of Micron Technology during the third quarter valued at approximately $11,355,000. Finally, Graham Capital Management L.P. purchased a new stake in Micron Technology in the third quarter worth $794,000. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value 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 $19,335,731.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total value of $783,510.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $80,483,154.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,730 shares of company stock valued at $31,063,449. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MU. Wolfe Research increased their target price on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Morgan Stanley increased their target price on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. UBS Group cut their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Robert W. Baird increased their target price on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Finally, StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.72.

Micron Technology Price Performance

Shares of MU traded down $5.97 during mid-day trading on Thursday, hitting $130.42. The company’s stock had a trading volume of 12,749,587 shares, compared to its average volume of 20,753,469. 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 50-day simple moving average of $131.48 and a 200 day simple moving average of $109.14. The firm has a market capitalization of $144.61 billion, a P/E ratio of -93.46 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 posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 81.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.57) EPS. Analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s payout ratio is -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.