Dynamic Advisor Solutions LLC Reduces Stake in Micron Technology, Inc. (NASDAQ:MU)

Dynamic Advisor Solutions LLC reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 18.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,076 shares of the semiconductor manufacturer’s stock after selling 1,847 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Micron Technology were worth $1,062,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Tidemark LLC acquired a new stake in Micron Technology during the 4th quarter valued at $25,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology during the first quarter worth $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth $29,000. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of NASDAQ MU traded up $1.31 during midday trading on Tuesday, hitting $95.95. 3,728,082 shares of the company’s stock were exchanged, compared to its average volume of 21,286,379. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The stock’s 50 day moving average price is $123.98 and its 200-day moving average price is $113.08. The firm has a market cap of $106.39 billion, a P/E ratio of -66.65 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $61.75 and a twelve 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. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the firm posted ($1.57) earnings per share. The business’s revenue was up 81.5% on a year-over-year basis. Equities research analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.48%. Micron Technology’s payout ratio is -32.39%.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $127.66, for a total transaction of $893,620.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $91,793,795.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $127.66, for a total transaction of $893,620.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $91,793,795.34. The disclosure for this sale can be found here. Insiders have sold a total of 67,174 shares of company stock valued at $9,528,693 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MU shares. Bank of America raised their price objective on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Susquehanna raised their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a report on Monday, June 17th. Morgan Stanley lifted their target price on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a report on Tuesday, June 25th. Finally, Needham & Company LLC lifted their target price on Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.92.

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.