STF Management LP Has $2.31 Million Position in Micron Technology, Inc. (NASDAQ:MU)

STF Management LP decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,531 shares of the semiconductor manufacturer’s stock after selling 781 shares during the period. Micron Technology accounts for approximately 1.0% of STF Management LP’s holdings, making the stock its 25th biggest holding. STF Management LP’s holdings in Micron Technology were worth $2,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MU. Clearbridge Investments LLC grew its stake in Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after acquiring an additional 20,741 shares during the period. Chapin Davis Inc. acquired a new position in shares of Micron Technology in the 2nd quarter valued at approximately $4,056,000. Norden Group LLC increased its stake in Micron Technology by 1,916.7% during the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after purchasing an additional 47,648 shares in the last quarter. TCW Group Inc. raised its holdings in Micron Technology by 5.7% during the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after buying an additional 28,649 shares during the period. Finally, Gulf International Bank UK Ltd lifted its stake in Micron Technology by 6.3% in the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after buying an additional 5,958 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Up 4.6 %

Shares of MU stock opened at $91.22 on Monday. Micron Technology, Inc. has a twelve month low of $63.83 and a twelve month high of $157.54. The stock’s fifty day simple moving average is $104.18 and its 200 day simple moving average is $115.03. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $101.15 billion, a P/E ratio of -64.24 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the prior year, the firm posted ($1.57) earnings per share. The firm’s revenue was up 81.5% compared to the same quarter last year. As a group, sell-side analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology’s payout ratio is -32.39%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of several research reports. Bank of America increased their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of Micron Technology in a report on Tuesday, June 25th. Raymond James reduced their price objective on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of Micron Technology in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $152.31.

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.