6,947 Shares in Micron Technology, Inc. $MU Bought by Retireful LLC

Key Points

• Retireful LLC has acquired a new position in Micron Technology by purchasing 6,947 shares worth approximately $856,000 in the second quarter.
• Micron's stock is down 2.8% recently, with the company reporting strong quarterly earnings of $1.91 per share, surpassing analysts' expectations.
• A number of institutional investors have recently increased their stakes in Micron Technology, indicating a positive outlook from major financial players.

Retireful LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,947 shares of the semiconductor manufacturer's stock, valued at approximately $856,000.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the 1st quarter worth about $33,000. AllSquare Wealth Management LLC boosted its stake in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after buying an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Micron Technology during the 1st quarter worth about $36,000. Roxbury Financial LLC boosted its stake in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the last quarter. Finally, Harbor Investment Advisory LLC boosted its stake in shares of Micron Technology by 240.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, the director directly owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the transaction, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,946 shares of company stock valued at $32,306,159. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MU shares. KGI Securities downgraded shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Zacks Research raised shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. CLSA started coverage on shares of Micron Technology in a report on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Mizuho upped their target price on shares of Micron Technology from $182.00 to $195.00 and gave the company an "outperform" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and a consensus price target of $184.77.

Micron Technology Stock Down 2.8%

Micron Technology stock opened at $161.71 on Thursday. The stock has a market cap of $180.97 billion, a P/E ratio of 21.31 and a beta of 1.47. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $170.45. The company's 50-day moving average price is $126.57 and its two-hundred day moving average price is $107.07.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 22.84% and a return on equity of 17.69%. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the prior year, the firm earned $0.62 EPS. As a group, analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

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.

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