Financial Sense Advisors Inc. Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Financial Sense Advisors Inc. boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,305 shares of the semiconductor manufacturer’s stock after acquiring an additional 454 shares during the quarter. Micron Technology comprises about 2.0% of Financial Sense Advisors Inc.’s holdings, making the stock its 11th largest holding. Financial Sense Advisors Inc.’s holdings in Micron Technology were worth $6,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MU. Tidemark LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at approximately $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at approximately $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at approximately $29,000. VisionPoint Advisory Group LLC raised its position in shares of Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 198 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Micron Technology during the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MU. Raymond James upped their price target on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. KeyCorp upped their price target on Micron Technology from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Thursday, March 21st. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald increased their target price on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Micron Technology Stock Up 3.2 %

Shares of Micron Technology stock opened at $136.82 on Thursday. The stock has a 50-day moving average price of $128.92 and a 200 day moving average price of $107.17. The company has a market cap of $151.71 billion, a P/E 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, Inc. has a 1 year low of $60.50 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last announced 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. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period in the prior year, the business earned ($1.57) EPS. As a group, analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared 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 (DPR) is presently -32.39%.

Insider Transactions at Micron Technology

In other news, EVP Sumit Sadana sold 13,239 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the completion of the sale, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Sumit Sadana sold 13,239 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $38,032,602.42. The disclosure for this sale can be found here. Insiders sold 257,730 shares of company stock valued at $31,921,649 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Company 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.