Micron Technology, Inc. $MU Shares Acquired by Beacon Capital Management LLC

Beacon Capital Management LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 468.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 989 shares of the semiconductor manufacturer’s stock after purchasing an additional 815 shares during the period. Beacon Capital Management LLC’s holdings in Micron Technology were worth $122,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after acquiring an additional 976 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Micron Technology by 5.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 4,029 shares of the semiconductor manufacturer’s stock valued at $350,000 after purchasing an additional 219 shares in the last quarter. Versant Capital Management Inc grew its stake in Micron Technology by 65.8% during the 1st quarter. Versant Capital Management Inc now owns 4,413 shares of the semiconductor manufacturer’s stock valued at $383,000 after purchasing an additional 1,751 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in Micron Technology by 30.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 9,070 shares of the semiconductor manufacturer’s stock valued at $788,000 after purchasing an additional 2,095 shares in the last quarter. Finally, Moody National Bank Trust Division grew its position in shares of Micron Technology by 2.0% during the first quarter. Moody National Bank Trust Division now owns 15,497 shares of the semiconductor manufacturer’s stock worth $1,347,000 after buying an additional 303 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America raised their price objective on shares of Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday. Cantor Fitzgerald raised their price objective on shares of Micron Technology from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday. Susquehanna lifted their price target on Micron Technology from $160.00 to $200.00 and gave the stock a “positive” rating in a research note on Wednesday, September 17th. Finally, Robert W. Baird lifted their price target on Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Buy” and an average price target of $184.77.

Micron Technology Trading Up 0.3%

NASDAQ MU opened at $157.27 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.89 and a current ratio of 2.52. The company has a 50-day simple moving average of $128.30 and a 200-day simple moving average of $108.11. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $170.45. The firm has a market capitalization of $176.00 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.40 and a beta of 1.47.

Micron Technology (NASDAQ:MU) last issued its 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. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a dividend of $0.115 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. Micron Technology’s payout ratio is currently 6.06%.

Insider Buying and Selling

In other news, EVP Manish H. Bhatia sold 80,000 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the transaction, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the transaction, the director owned 20,146 shares of the company’s stock, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,308 shares of company stock worth $19,804,967. 0.30% of the stock is owned by company insiders.

Micron Technology 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.