Mather Group LLC. Cuts Position in Micron Technology, Inc. $MU

Mather Group LLC. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 9.3% in the 2nd quarter, Holdings Channel reports. The fund owned 7,488 shares of the semiconductor manufacturer’s stock after selling 770 shares during the quarter. Mather Group LLC.’s holdings in Micron Technology were worth $923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Micron Technology in the first quarter worth $33,000. AllSquare Wealth Management LLC boosted its position in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology during the first quarter valued at about $36,000. Roxbury Financial LLC boosted its position in Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 300 shares during the period. Finally, Harbor Investment Advisory LLC boosted its position in Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 300 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Down 3.0%

Shares of MU stock opened at $156.83 on Friday. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $170.45. The company has a current ratio of 2.52, a quick ratio of 1.89 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $127.44 and its 200 day moving average is $107.55. The stock has a market capitalization of $175.51 billion, a P/E ratio of 20.66 and a beta of 1.47.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $8.83 billion. During the same quarter last year, the company posted $0.62 earnings per share. Research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a $0.115 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology’s dividend payout ratio (DPR) is presently 8.29%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the transaction, the executive vice president owned 275,067 shares in the company, valued at $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,308 shares of company stock valued at $19,804,967 over the last three months. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Rosenblatt Securities upped their price target on shares of Micron Technology from $200.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald upped their price target on shares of Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday. Arete Research raised shares of Micron Technology to a “strong-buy” rating in a research note on Friday, July 18th. Mizuho increased their price target on shares of Micron Technology from $182.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Erste Group Bank started coverage on shares of Micron Technology in a research note on Thursday, August 14th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $184.77.

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.