Beacon Investment Advisory Services Inc. Sells 1,565 Shares of Micron Technology, Inc. $MU

Beacon Investment Advisory Services Inc. decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 32.7% during the second quarter, HoldingsChannel reports. The firm owned 3,216 shares of the semiconductor manufacturer’s stock after selling 1,565 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Micron Technology were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after acquiring an additional 2,049,163 shares during the period. Goldman Sachs Group Inc. increased its position in Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after acquiring an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. increased its position in Micron Technology by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer’s stock worth $602,917,000 after acquiring an additional 58,285 shares during the period. Dimensional Fund Advisors LP increased its position in Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock worth $590,807,000 after acquiring an additional 1,416,174 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Micron Technology by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer’s stock worth $379,417,000 after acquiring an additional 17,970 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In other news, EVP Manish H. Bhatia sold 80,000 shares of the business’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 13,798 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the sale, the chief executive officer owned 325,148 shares in the company, valued at $52,739,005.60. This represents a 4.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,308 shares of company stock worth $19,804,967 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Micron Technology Trading Down 3.0%

Shares of Micron Technology stock opened at $156.83 on Friday. The firm has a market capitalization of $175.51 billion, a PE ratio of 20.66 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.89. The company’s fifty day moving average price is $127.44 and its two-hundred day moving average price is $107.55. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $170.45.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS 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 17.21%. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous year, the company earned $0.62 EPS. On average, analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp boosted their target price on shares of Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley boosted their price target on shares of Micron Technology from $135.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday. Finally, The Goldman Sachs Group boosted their price target on shares of Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $184.77.

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.