IMS Capital Management Takes Position in Micron Technology, Inc. $MU

IMS Capital Management bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,575 shares of the semiconductor manufacturer’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MU. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter valued at approximately $33,000. AllSquare Wealth Management LLC increased 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 valued at $35,000 after purchasing an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Micron Technology during the 1st quarter valued at approximately $36,000. Roxbury Financial LLC increased 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 valued at $37,000 after purchasing an additional 300 shares during the period. Finally, Harbor Investment Advisory LLC increased 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.

Analyst Ratings Changes

MU has been the subject of a number of recent analyst reports. Arete Research raised shares of Micron Technology to a “strong-buy” rating in a research report on Friday, July 18th. TD Cowen increased their target price on shares of Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Barclays raised their price objective on shares of Micron Technology from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Finally, Mizuho raised their price objective on shares of Micron Technology from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.54.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director owned 22,762 shares in the company, valued at $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,946 shares of company stock worth $32,306,159. 0.30% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $166.41 on Wednesday. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $125.66 and its two-hundred day simple moving average is $106.69. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $170.45. The stock has a market cap of $186.23 billion, a PE ratio of 29.98 and a beta of 1.47.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The business had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.83 billion. During the same period last year, the business earned $0.62 EPS. As a group, analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.115 per share. 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 8.29%.

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.