Regent Investment Management LLC Boosts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Regent Investment Management LLC boosted its position in Micron Technology, Inc. (NASDAQ:MUGet Rating) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,688 shares of the semiconductor manufacturer’s stock after buying an additional 675 shares during the quarter. Micron Technology makes up about 0.9% of Regent Investment Management LLC’s holdings, making the stock its 26th largest position. Regent Investment Management LLC’s holdings in Micron Technology were worth $3,244,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Concorde Financial Corp purchased a new stake in shares of Micron Technology during the fourth quarter worth $27,000. SOA Wealth Advisors LLC. boosted its stake in Micron Technology by 144.9% in the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 200 shares during the period. Vectors Research Management LLC grew its holdings in Micron Technology by 60.3% during the 4th quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 140 shares in the last quarter. Core Alternative Capital increased its position in shares of Micron Technology by 912.5% during the first quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 365 shares during the period. Finally, BDO Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 46.7% in the first quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 140 shares in the last quarter. 79.66% of the stock is currently owned by institutional investors.

Micron Technology Stock Down 1.1 %

Shares of NASDAQ MU traded down $0.53 during midday trading on Friday, hitting $49.13. 901,617 shares of the company’s stock were exchanged, compared to its average volume of 16,084,269. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 2.44. Micron Technology, Inc. has a twelve month low of $49.35 and a twelve month high of $98.45. The company has a market cap of $54.20 billion, a PE ratio of 5.64, a P/E/G ratio of 2.90 and a beta of 1.30. The firm’s fifty day simple moving average is $58.94 and its 200-day simple moving average is $65.32.

Micron Technology (NASDAQ:MUGet Rating) last issued its earnings results 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 analyst estimates of $8.66 billion. During the same quarter last year, the company earned $1.81 EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis. Research analysts predict that Micron Technology, Inc. will post 7.91 EPS for the current fiscal year.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Monday, July 11th were given a dividend of $0.115 per share. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.94%. Micron Technology’s payout ratio is 5.25%.

Insiders Place Their Bets

In other news, SVP Michael W. Bokan sold 16,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $63.82, for a total value of $1,059,412.00. Following the transaction, the senior vice president now owns 119,126 shares of the company’s stock, valued at $7,602,621.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MU. BMO Capital Markets lowered their price target on Micron Technology from $85.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday. Piper Sandler cut their price objective on shares of Micron Technology from $70.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, June 30th. Cowen cut their price objective on shares of Micron Technology from $90.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. Citigroup dropped their price target on shares of Micron Technology from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Finally, Cowen decreased their price objective on shares of Micron Technology from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, July 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.93.

Micron Technology Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MUGet Rating).

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

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.