Cwm LLC Has $5.96 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Cwm LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 80.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 45,330 shares of the semiconductor manufacturer’s stock after buying an additional 20,242 shares during the period. Cwm LLC’s holdings in Micron Technology were worth $5,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC increased its position in shares of Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares during the period. Norden Group LLC raised its stake in Micron Technology by 1,916.7% during the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after buying an additional 47,648 shares during the last quarter. TCW Group Inc. lifted its stake in shares of Micron Technology by 5.7% in the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after purchasing an additional 28,649 shares during the period. Gulf International Bank UK Ltd boosted its position in shares of Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after purchasing an additional 5,958 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in shares of Micron Technology during the 1st quarter valued at $8,558,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 2.5 %

Shares of MU traded down $2.20 during mid-day trading on Wednesday, reaching $86.80. The company’s stock had a trading volume of 29,422,406 shares, compared to its average volume of 21,392,746. The company’s fifty day moving average price is $125.98 and its two-hundred day moving average price is $112.81. 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 52 week low of $61.75 and a 52 week high of $157.54. The stock has a market cap of $96.25 billion, a PE ratio of -61.13 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion for 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 revenue for the quarter was up 81.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.57) earnings per share. On average, analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal 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 issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Wall Street Analyst Weigh In

MU has been the topic of several recent research reports. UBS Group dropped their price target on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of Micron Technology in a research note on Thursday, June 27th. Susquehanna increased their target price on shares of Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research report on Monday, June 17th. Barclays boosted their target price on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, TD Cowen increased their price target on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $157.92.

Insider Activity at Micron Technology

In other news, EVP Sumit Sadana sold 13,239 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the sale, the executive vice president now owns 260,857 shares in the company, valued at approximately $30,981,985.89. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on 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 $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sumit Sadana sold 13,239 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the transaction, the executive vice president now owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The disclosure for this sale can be found here. Insiders have sold 114,413 shares of company stock worth $15,288,739 over the last 90 days. 0.32% of the stock is owned by company insiders.

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.