Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 77.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,786 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,693 shares during the period. Atomi Financial Group Inc.’s holdings in Micron Technology were worth $1,419,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MU. Atria Wealth Solutions Inc. raised its stake in Micron Technology by 11.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 67,657 shares of the semiconductor manufacturer’s stock worth $5,777,000 after purchasing an additional 7,114 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in shares of Micron Technology during the 4th quarter valued at approximately $225,000. Gilliland Jeter Wealth Management LLC acquired a new position in Micron Technology in the fourth quarter valued at approximately $555,000. Parametrica Management Ltd purchased a new position in Micron Technology in the fourth quarter worth approximately $1,016,000. Finally, Intellectus Partners LLC increased its stake in Micron Technology by 26.1% during the fourth quarter. Intellectus Partners LLC now owns 68,015 shares of the semiconductor manufacturer’s stock worth $5,812,000 after acquiring an additional 14,095 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Micron Technology stock traded down $1.05 during midday trading on Tuesday, hitting $97.86. 17,191,613 shares of the company’s stock were exchanged, compared to its average volume of 21,345,762. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The stock has a market cap of $108.51 billion, a price-to-earnings ratio of -68.92 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The firm’s 50 day simple moving average is $117.57 and its 200 day simple moving average is $114.35.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period last year, the firm earned ($1.57) EPS. Equities research analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction 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 owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value 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 $109,496,781.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,174 shares of company stock worth $8,635,073. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group lowered their target price on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Wedbush reiterated an “outperform” rating and issued a $170.00 target price on shares of Micron Technology in a report on Thursday, June 27th. Needham & Company LLC decreased their price target on Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday. Robert W. Baird lifted their price objective on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.12.

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.