J. Goldman & Co LP Has $513,000 Stake in Micron Technology, Inc. (NASDAQ:MU)

J. Goldman & Co LP trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 95.7% in the first quarter, HoldingsChannel reports. The firm owned 6,587 shares of the semiconductor manufacturer’s stock after selling 146,014 shares during the period. J. Goldman & Co LP’s holdings in Micron Technology were worth $513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SOA Wealth Advisors LLC. increased its stake in shares of Micron Technology by 144.9% in the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 200 shares during the period. Concorde Financial Corp acquired a new stake in shares of Micron Technology in the 4th quarter valued at $27,000. Core Alternative Capital increased its stake in shares of Micron Technology by 912.5% in the 1st 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. BDO Wealth Advisors LLC increased its stake in shares of Micron Technology by 46.7% in the 1st quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 140 shares during the period. Finally, Vectors Research Management LLC increased its stake in shares of Micron Technology by 60.3% in 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 during the period. 79.66% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

MU opened at $57.44 on Friday. The business’s 50-day moving average price is $59.90 and its two-hundred day moving average price is $67.33. Micron Technology, Inc. has a 1 year low of $51.40 and a 1 year high of $98.45. The company has a market capitalization of $63.36 billion, a price-to-earnings ratio of 6.55, a P/E/G ratio of 0.83 and a beta of 1.30. 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 (NASDAQ:MUGet Rating) last released its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.64 billion for the quarter, compared to the consensus estimate of $8.66 billion. During the same quarter last year, the business posted $1.81 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities analysts expect that Micron Technology, Inc. will post 8 EPS for the current fiscal year.

Micron Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Monday, July 11th were given a $0.115 dividend. The ex-dividend date of this dividend was Friday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Micron Technology’s previous quarterly dividend of $0.10. Micron Technology’s payout ratio is currently 5.25%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Mizuho lowered their target price on Micron Technology from $84.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and lowered their target price for the company from $70.00 to $62.00 in a research note on Friday, July 1st. Cowen reduced their price target on Micron Technology from $90.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, July 1st. Deutsche Bank Aktiengesellschaft reduced their price target on Micron Technology from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Finally, Citigroup reduced their price target on Micron Technology from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $86.54.

Insider Activity at Micron Technology

In related news, SVP Michael W. Bokan sold 16,600 shares of Micron Technology stock in a transaction dated 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 sale, 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 document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

About Micron Technology

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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.

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

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