TigerOak Management L.L.C. Sells 200 Shares of Micron Technology, Inc. $MU

TigerOak Management L.L.C. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,647 shares of the semiconductor manufacturer’s stock after selling 200 shares during the period. TigerOak Management L.L.C.’s holdings in Micron Technology were worth $819,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mission Wealth Management LP lifted its holdings in shares of Micron Technology by 195.2% during the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock worth $1,360,000 after acquiring an additional 10,348 shares during the period. Centre Asset Management LLC bought a new position in shares of Micron Technology during the 1st quarter worth about $7,720,000. Czech National Bank lifted its holdings in shares of Micron Technology by 6.4% during the 1st quarter. Czech National Bank now owns 255,908 shares of the semiconductor manufacturer’s stock worth $22,236,000 after acquiring an additional 15,485 shares during the period. TB Alternative Assets Ltd. lifted its holdings in shares of Micron Technology by 331.3% during the 1st quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer’s stock worth $6,933,000 after acquiring an additional 61,288 shares during the period. Finally, Stock Yards Bank & Trust Co. bought a new position in shares of Micron Technology during the 1st quarter worth about $228,000. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MU shares. Zacks Research raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. CLSA began coverage on shares of Micron Technology in a report on Wednesday, August 27th. They set an “outperform” rating and a $155.00 price target for the company. Citigroup lifted their price target on shares of Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research lifted their price target on shares of Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Finally, Bank of America lifted their price target on shares of Micron Technology from $140.00 to $180.00 and gave the company a “neutral” 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 given a Hold rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.77.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director directly owned 20,146 shares of the company’s stock, valued at $2,330,287.82. The trade was a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Manish H. Bhatia sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares of the company’s stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. 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 corporate insiders.

Micron Technology Trading Down 2.8%

MU opened at $161.71 on Thursday. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $180.97 billion, a PE ratio of 21.31 and a beta of 1.47. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $170.45. The firm has a 50-day moving average price of $126.57 and a two-hundred day moving average price of $107.07.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $8.83 billion. During the same quarter last year, the company posted $0.62 EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s payout ratio is 8.29%.

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.