Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Lessened by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,968 shares of the semiconductor manufacturer’s stock after selling 209 shares during the period. Rehmann Capital Advisory Group’s holdings in Micron Technology were worth $350,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Tidemark LLC purchased a new position in Micron Technology during the 4th quarter worth approximately $25,000. DecisionPoint Financial LLC purchased a new position in Micron Technology during the 1st quarter worth approximately $25,000. Pingora Partners LLC purchased a new position in Micron Technology during the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC purchased a new position in Micron Technology during the 4th quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC grew its position in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Argus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Thursday, March 21st. KeyCorp boosted their price target on shares of Micron Technology from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group lowered their price target on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Wells Fargo & Company boosted their price target on shares of Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, Mizuho boosted their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.72.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $80,483,154.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,730 shares of company stock valued at $31,063,449. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock traded down $2.41 on Thursday, reaching $133.98. 5,585,715 shares of the stock were exchanged, compared to its average volume of 20,699,197. The stock has a market cap of $148.56 billion, a PE ratio of -93.58 and a beta of 1.18. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $61.75 and a twelve month high of $157.54. The firm has a fifty day moving average price of $131.48 and a two-hundred day moving average price of $109.14.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s revenue was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.57) EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

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.