Columbia Asset Management Buys 1,037 Shares of Micron Technology, Inc. (NASDAQ:MU)

Columbia Asset Management lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 26.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,992 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,037 shares during the period. Columbia Asset Management’s holdings in Micron Technology were worth $657,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the 2nd quarter valued at approximately $28,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the first quarter worth approximately $25,000. Valued Wealth Advisors LLC boosted its position in shares of Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares during the period. Richard W. Paul & Associates LLC grew its stake in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the last quarter. Finally, LRI Investments LLC increased its position in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of MU stock opened at $89.39 on Friday. The stock has a 50-day moving average of $109.63 and a 200-day moving average of $114.52. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. The stock has a market cap of $99.12 billion, a PE ratio of -62.95 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results 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 company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the company earned ($1.57) earnings per share. The company’s revenue for the quarter was up 81.5% compared to the same quarter last year. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the firm’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 approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders have sold a total of 46,174 shares of company stock valued at $6,827,113 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wolfe Research raised their price objective on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Morgan Stanley raised their target price on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. Mizuho lifted their price target on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Susquehanna reduced their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.12.

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.