PFS Partners LLC Buys 3,492 Shares of Micron Technology, Inc. $MU

PFS Partners LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 128.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,213 shares of the semiconductor manufacturer’s stock after buying an additional 3,492 shares during the period. Micron Technology makes up approximately 0.4% of PFS Partners LLC’s investment portfolio, making the stock its 27th biggest position. PFS Partners LLC’s holdings in Micron Technology were worth $766,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. BOS Asset Management LLC bought a new stake in shares of Micron Technology in the second quarter valued at approximately $580,000. Five Oceans Advisors bought a new stake in Micron Technology during the second quarter worth $213,000. Bank Pictet & Cie Europe AG lifted its stake in Micron Technology by 16.8% during the second quarter. Bank Pictet & Cie Europe AG now owns 49,127 shares of the semiconductor manufacturer’s stock worth $6,055,000 after purchasing an additional 7,065 shares during the last quarter. Octavia Wealth Advisors LLC lifted its stake in Micron Technology by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 13,803 shares of the semiconductor manufacturer’s stock worth $1,701,000 after purchasing an additional 279 shares during the last quarter. Finally, Maridea Wealth Management LLC bought a new position in shares of Micron Technology in the 2nd quarter valued at $212,000. 80.84% of the stock is currently owned by institutional investors.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director directly owned 20,146 shares of the company’s stock, valued at approximately $2,330,287.82. The trade was a 10.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 13,798 shares of Micron Technology stock in a transaction 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 sale, the chief executive officer directly owned 325,148 shares of the company’s stock, valued at $52,739,005.60. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,308 shares of company stock valued at $19,804,967. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Up 0.3%

MU opened at $157.27 on Friday. The company has a fifty day moving average price of $128.30 and a 200-day moving average price of $108.02. The firm has a market capitalization of $176.00 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 0.40 and a beta of 1.47. 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 one year low of $61.54 and a one year high of $170.45.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. During the same period in the previous year, the business earned $0.62 EPS. Equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd 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 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s payout ratio is 6.06%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MU shares. Arete Research upgraded Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. Wolfe Research increased their price target on Micron Technology from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Susquehanna increased their price target on Micron Technology from $160.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, September 17th. Zacks Research upgraded Micron Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. Finally, Erste Group Bank began coverage on Micron Technology in a research note on Thursday, August 14th. They issued a “buy” rating for the company. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $184.77.

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.