Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Continuum Advisory LLC

Continuum Advisory LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,655 shares of the semiconductor manufacturer’s stock after acquiring an additional 332 shares during the quarter. Continuum Advisory LLC’s holdings in Micron Technology were worth $612,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Micron Technology during the 4th quarter worth approximately $769,372,000. Price T Rowe Associates Inc. MD raised its stake in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after buying an additional 3,315,988 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Micron Technology by 125.0% during the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after purchasing an additional 2,523,267 shares during the period. Capital International Investors grew its holdings in shares of Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Finally, Swedbank AB grew its position in shares of Micron Technology by 473.8% during the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after acquiring an additional 2,187,460 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $126.14, for a total value of $882,980.00. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at $90,700,840.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $126.14, for a total transaction of $882,980.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $90,700,840.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,174 shares of company stock valued at $8,635,073. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target 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. Bank of America lifted their price target on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Mizuho lifted their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Wedbush restated an “outperform” rating and set a $170.00 target price on shares of Micron Technology in a report on Thursday, June 27th. Finally, Stifel Nicolaus upped their price target on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $157.92.

Micron Technology Trading Up 0.0 %

NASDAQ:MU traded up $0.05 during trading hours on Tuesday, reaching $108.68. The company’s stock had a trading volume of 2,171,069 shares, compared to its average volume of 21,294,449. The firm has a 50-day simple moving average of $121.29 and a 200-day simple moving average of $113.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a 1 year low of $62.63 and a 1 year high of $157.54. The firm has a market capitalization of $120.51 billion, a price-to-earnings ratio of -76.50 and a beta of 1.18.

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, beating analysts’ consensus estimates of $0.48 by $0.14. The business 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 company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.57) EPS. Research analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.42%. Micron Technology’s payout ratio is -32.39%.

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.