Graypoint LLC lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,551 shares of the semiconductor manufacturer’s stock after selling 291 shares during the period. Graypoint LLC’s holdings in Micron Technology were worth $432,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Concorde Financial Corp acquired a new stake in Micron Technology during the fourth quarter worth $27,000. Selective Wealth Management Inc. acquired a new stake in Micron Technology during the fourth quarter worth $28,000. SOA Wealth Advisors LLC. boosted its stake in Micron Technology by 144.9% during the first quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its stake in shares of Micron Technology by 600.0% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 300 shares in the last quarter. Finally, Vectors Research Management LLC boosted its stake in shares of Micron Technology by 60.3% in the 4th quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 80.35% of the company’s stock.
Shares of MU stock opened at $55.28 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.11 and a quick ratio of 2.33. The stock has a market cap of $61.73 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The stock has a 50-day moving average of $66.35 and a 200-day moving average of $77.92. Micron Technology, Inc. has a one year low of $53.60 and a one year high of $98.45.
Micron Technology (NASDAQ:MU – Get Rating) last announced its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.25. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The company had revenue of $8.64 billion during the quarter, compared to analysts’ expectations of $8.66 billion. During the same period in the prior year, the business posted $1.81 EPS. Micron Technology’s revenue was up 16.4% on a year-over-year basis. As a group, research analysts anticipate that Micron Technology, Inc. will post 9.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 26th. Investors of record on Monday, July 11th will be given a $0.115 dividend. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. This represents a $0.46 annualized dividend and a dividend yield of 0.83%. Micron Technology’s payout ratio is currently 5.03%.
Several equities research analysts have recently commented on MU shares. Citigroup reduced their target price on shares of Micron Technology from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, June 6th. Rosenblatt Securities restated a “buy” rating and issued a $165.00 target price on shares of Micron Technology in a research note on Wednesday, March 30th. Summit Insights downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Sunday, June 12th. Susquehanna reaffirmed a “buy” rating and issued a $115.00 price target on shares of Micron Technology in a report on Monday, May 16th. Finally, Mizuho cut their price target on Micron Technology from $113.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.42.
Micron Technology Company Profile (Get Rating)
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
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