Fort Washington Investment Advisors Inc. OH Has $48.05 Million Stock Position in Micron Technology, Inc. $MU

Fort Washington Investment Advisors Inc. OH decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 22.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,866 shares of the semiconductor manufacturer’s stock after selling 111,381 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Micron Technology were worth $48,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter worth about $33,000. Roxbury Financial LLC lifted its position in 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 in the last quarter. AllSquare Wealth Management LLC lifted its position in 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 in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology during the 1st quarter valued at about $36,000. Finally, Harbor Investment Advisory LLC lifted its position in Micron Technology by 240.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MU shares. Needham & Company LLC upped their target price on shares of Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on shares of Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday. 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 research report on Wednesday. Finally, Zacks Research upgraded shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $184.77.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 13,798 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was 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 directly owned 325,148 shares of the company’s stock, valued at approximately $52,739,005.60. This represents a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the sale, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,308 shares of company stock valued at $19,804,967 in the last quarter. 0.30% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $157.27 on Friday. The company has a market capitalization of $176.00 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 0.40 and a beta of 1.47. The firm’s 50 day simple moving average is $128.30 and its 200 day simple moving average is $108.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.89. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $170.45.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The business had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.83 billion. During the same period in the prior year, the business earned $0.62 EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced 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 yield of 0.3%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio is presently 6.06%.

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.