Advisor Resource Council Purchases 3,004 Shares of Micron Technology, Inc. (NASDAQ:MU)

Advisor Resource Council raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 97.0% in the first quarter, Holdings Channel reports. The firm owned 6,100 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,004 shares during the quarter. Advisor Resource Council’s holdings in Micron Technology were worth $719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tidemark LLC bought a new stake in shares of Micron Technology in the fourth quarter worth approximately $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology in the fourth quarter worth approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Micron Technology in the fourth quarter worth approximately $29,000. VisionPoint Advisory Group LLC grew its stake in shares of Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 198 shares during the period. Finally, Riverview Trust Co bought a new stake in shares of Micron Technology in the first quarter worth approximately $39,000. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Micron Technology news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the sale, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The disclosure for this sale can be found here. Insiders sold a total of 257,730 shares of company stock valued at $31,921,649 over the last three months. 0.32% of the stock is owned by company insiders.

Micron Technology Price Performance

MU traded up $4.23 during trading hours on Thursday, hitting $136.82. The company’s stock had a trading volume of 14,507,146 shares, compared to its average volume of 27,836,970. The business’s 50-day moving average price is $128.92 and its 200-day moving average price is $107.17. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $157.54. The stock has a market cap of $151.71 billion, a price-to-earnings ratio of -96.35 and a beta of 1.18. 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 (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the business posted ($1.57) earnings per share. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Mizuho raised their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Robert W. Baird raised their price objective on shares of Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. UBS Group dropped their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Finally, Susquehanna raised their price objective on shares of Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a report on Monday, June 17th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.52.

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.