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Atria Investments LLC Trims Stake in Micron Technology, Inc. (NASDAQ:MU)


Atria Investments LLC lowered its position in Micron Technology, Inc. (NASDAQ:MUGet Rating) by 17.9% during the 1st quarter, HoldingsChannel reports. The fund owned 16,553 shares of the semiconductor manufacturer’s stock after selling 3,621 shares during the period. Atria Investments LLC’s holdings in Micron Technology were worth $1,289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lincoln National Corp purchased a new position in Micron Technology in the 4th quarter worth about $404,000. Meridian Wealth Management LLC increased its stake in Micron Technology by 11.8% in the 4th quarter. Meridian Wealth Management LLC now owns 3,624 shares of the semiconductor manufacturer’s stock worth $338,000 after buying an additional 383 shares during the period. Janney Montgomery Scott LLC increased its stake in Micron Technology by 5.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 83,291 shares of the semiconductor manufacturer’s stock worth $7,759,000 after buying an additional 4,349 shares during the period. Hexagon Capital Partners LLC increased its stake in Micron Technology by 22.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,779 shares of the semiconductor manufacturer’s stock worth $259,000 after buying an additional 503 shares during the period. Finally, Paragon Capital Management Ltd purchased a new position in Micron Technology in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 80.35% of the company’s stock.

Micron Technology Stock Performance

MU opened at $59.66 on Wednesday. Micron Technology, Inc. has a 12-month low of $51.40 and a 12-month high of $98.45. The company has a current ratio of 3.24, a quick ratio of 2.44 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $65.81 billion, a PE ratio of 6.80, a P/E/G ratio of 0.56 and a beta of 1.28. The firm has a 50 day moving average of $62.55 and a two-hundred day moving average of $73.80.

Micron Technology (NASDAQ:MUGet Rating) last posted its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. Micron Technology had a net margin of 30.61% and a return on equity of 21.91%. The company had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.66 billion. During the same period last year, the firm posted $1.81 EPS. Micron Technology’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, analysts anticipate that Micron Technology, Inc. will post 8.12 EPS for the current year.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Monday, July 11th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, July 8th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. This represents a $0.46 dividend on an annualized basis and a yield of 0.77%. Micron Technology’s dividend payout ratio (DPR) is currently 5.25%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Rosenblatt Securities reduced their price target on shares of Micron Technology from $165.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 1st. Wells Fargo & Company dropped their target price on shares of Micron Technology from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Morgan Stanley cut shares of Micron Technology from an “equal weight” rating to an “underweight” rating and set a $56.00 target price on the stock. in a report on Friday, July 22nd. Cowen dropped their target price on shares of Micron Technology from $90.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Finally, Raymond James dropped their target price on shares of Micron Technology from $115.00 to $72.00 and set a “strong-buy” rating on the stock in a report on Friday, July 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $87.42.

Micron Technology Profile

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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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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)



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