Cwm LLC Buys 20,242 Shares of Micron Technology, Inc. (NASDAQ:MU)

Cwm LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 80.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,330 shares of the semiconductor manufacturer’s stock after purchasing an additional 20,242 shares during the quarter. Cwm LLC’s holdings in Micron Technology were worth $5,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MU. Atria Investments Inc increased its position in shares of Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after buying an additional 93 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after acquiring an additional 98 shares in the last quarter. Retirement Group LLC increased its holdings in Micron Technology by 37.3% in the 1st quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 100 shares in the last quarter. AIA Group Ltd raised its position in Micron Technology by 2.1% during the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock worth $568,000 after acquiring an additional 101 shares during the period. Finally, Manchester Capital Management LLC lifted its holdings in Micron Technology by 5.2% during the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity

In related news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total value of $1,851,300.00. Following the completion of the transaction, the senior vice president now directly owns 138,387 shares of the company’s stock, valued at $17,079,723.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total value of $1,851,300.00. Following the transaction, the senior vice president now directly owns 138,387 shares in the company, valued at approximately $17,079,723.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,413 shares of company stock worth $15,288,739. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. KeyCorp reduced their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday. TD Cowen lifted their price target on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. increased their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Morgan Stanley lifted their target price on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Finally, Stifel Nicolaus increased their target price on shares of Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $157.92.

Micron Technology Stock Down 2.5 %

NASDAQ:MU traded down $2.20 during midday trading on Wednesday, reaching $86.80. The company had a trading volume of 29,422,406 shares, compared to its average volume of 21,392,746. The stock’s fifty day simple moving average is $125.98 and its 200-day simple moving average is $112.81. 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 12-month low of $61.75 and a 12-month high of $157.54. The firm has a market capitalization of $96.25 billion, a price-to-earnings ratio of -61.13 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The business 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 previous year, the company posted ($1.57) earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given 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 dividend yield of 0.53%. Micron Technology’s dividend payout ratio is currently -32.39%.

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.