Jacobi Capital Management LLC Has $643,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Jacobi Capital Management LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MUGet Rating) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,261 shares of the semiconductor manufacturer’s stock after buying an additional 576 shares during the quarter. Jacobi Capital Management LLC’s holdings in Micron Technology were worth $643,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Stiles Financial Services Inc boosted its stake in Micron Technology by 3.5% in the first quarter. Stiles Financial Services Inc now owns 11,139 shares of the semiconductor manufacturer’s stock valued at $868,000 after buying an additional 379 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Micron Technology by 488.4% in the first quarter. Los Angeles Capital Management LLC now owns 2,717,529 shares of the semiconductor manufacturer’s stock valued at $211,668,000 after buying an additional 2,255,694 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Micron Technology during the first quarter valued at about $268,000. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Micron Technology by 16.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 18,155 shares of the semiconductor manufacturer’s stock valued at $1,414,000 after purchasing an additional 2,554 shares in the last quarter. Finally, ARGA Investment Management LP boosted its stake in shares of Micron Technology by 97.1% during the first quarter. ARGA Investment Management LP now owns 409,723 shares of the semiconductor manufacturer’s stock valued at $31,913,000 after purchasing an additional 201,849 shares in the last quarter. 80.35% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 3.7 %

MU stock opened at $62.46 on Friday. The stock’s fifty day simple moving average is $61.46 and its two-hundred day simple moving average is $72.15. The company has a current ratio of 3.24, a quick ratio of 2.44 and a debt-to-equity ratio of 0.14. Micron Technology, Inc. has a 1-year low of $51.40 and a 1-year high of $98.45. The stock has a market cap of $68.90 billion, a P/E ratio of 7.12, a P/E/G ratio of 0.59 and a beta of 1.28.

Micron Technology (NASDAQ:MUGet Rating) last posted its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The business had revenue of $8.64 billion for the quarter, compared to analysts’ expectations of $8.66 billion. During the same quarter in the previous year, the firm earned $1.81 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. Analysts expect that Micron Technology, Inc. will post 8.12 EPS for the current year.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Monday, July 11th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, July 8th. This is a boost from Micron Technology’s previous quarterly dividend of $0.10. Micron Technology’s dividend payout ratio is currently 5.25%.

Analyst Ratings Changes

A number of brokerages have recently commented on MU. Cowen cut their price target on Micron Technology from $90.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. Needham & Company LLC cut their price target on Micron Technology from $80.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, July 1st. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the company from $70.00 to $62.00 in a research note on Friday, July 1st. StockNews.com raised Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Finally, JPMorgan Chase & Co. cut their price objective on Micron Technology from $120.00 to $96.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.42.

Micron Technology Company Profile

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Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

Further Reading

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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