Bay Colony Advisory Group Inc d b a Bay Colony Advisors Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 10.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,550 shares of the semiconductor manufacturer’s stock after selling 310 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Micron Technology were worth $335,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Tidemark LLC acquired a new stake in Micron Technology during the fourth quarter worth about $25,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the first quarter valued at approximately $25,000. Pingora Partners LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the second quarter valued at approximately $28,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at approximately $29,000. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MU. Stifel Nicolaus raised their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Needham & Company LLC raised their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Citigroup lifted their target price on shares of Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Piper Sandler lifted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, KeyCorp dropped their target price on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.52.

Insider Activity

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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on 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 $90,700,840.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, 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 60,174 shares of company stock worth $8,635,073 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 2.4 %

Shares of NASDAQ:MU traded down $2.48 during mid-day trading on Friday, hitting $101.78. The company had a trading volume of 16,817,990 shares, compared to its average volume of 21,285,031. The firm has a fifty day moving average price of $119.32 and a 200 day moving average price of $113.74. The company has a market capitalization of $112.86 billion, a PE ratio of -73.14 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, Inc. has a one year low of $62.63 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The company 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 firm’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.57) EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared 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. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

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.