L & S Advisors Inc Buys 25,869 Shares of Micron Technology, Inc. (NASDAQ:MU)

L & S Advisors Inc boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 85.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,145 shares of the semiconductor manufacturer’s stock after purchasing an additional 25,869 shares during the quarter. Micron Technology makes up 0.8% of L & S Advisors Inc’s investment portfolio, making the stock its 29th largest position. L & S Advisors Inc’s holdings in Micron Technology were worth $7,385,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Axxcess Wealth Management LLC increased its holdings in shares of Micron Technology by 11.7% in the second quarter. Axxcess Wealth Management LLC now owns 14,255 shares of the semiconductor manufacturer’s stock worth $1,875,000 after purchasing an additional 1,488 shares during the period. Perennial Investment Advisors LLC increased its stake in Micron Technology by 13.6% in the 2nd quarter. Perennial Investment Advisors LLC now owns 2,820 shares of the semiconductor manufacturer’s stock worth $371,000 after acquiring an additional 338 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new stake in shares of Micron Technology during the 2nd quarter valued at about $210,000. Edgestream Partners L.P. purchased a new position in shares of Micron Technology during the second quarter worth about $2,687,000. Finally, Moors & Cabot Inc. increased its position in shares of Micron Technology by 62.1% in the second quarter. Moors & Cabot Inc. now owns 10,895 shares of the semiconductor manufacturer’s stock worth $1,433,000 after purchasing an additional 4,173 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of several research analyst reports. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Stifel Nicolaus lifted their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. KeyCorp reduced their target price on Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Raymond James lowered their price target on Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Finally, Mizuho upped their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.77.

Micron Technology Price Performance

MU stock opened at $87.18 on Tuesday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $103.31 and its two-hundred day moving average price is $115.01. The stock has a market capitalization of $96.67 billion, a price-to-earnings ratio of -61.39 and a beta of 1.17. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.57) EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. Micron Technology’s dividend payout ratio is -32.39%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Micron Technology 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.