Foundations Investment Advisors LLC Purchases 1,131 Shares of Micron Technology, Inc. (NASDAQ:MU)

Foundations Investment Advisors LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 20.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 6,615 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,131 shares during the period. Foundations Investment Advisors LLC’s holdings in Micron Technology were worth $870,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $769,372,000. Price T Rowe Associates Inc. MD raised its position in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. Capital International Investors lifted its stake in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Swedbank AB boosted its holdings in shares of Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after purchasing an additional 2,187,460 shares during the period. Finally, 1832 Asset Management L.P. increased its position in shares of Micron Technology by 301,500.0% during the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after purchasing an additional 1,809,000 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, June 27th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the sale, the chief executive officer now 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. Insiders sold 46,174 shares of company stock worth $6,827,113 in the last three months. 0.32% of the stock is owned by insiders.

Micron Technology Trading Down 3.4 %

NASDAQ MU opened at $86.38 on Friday. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The company has a market capitalization of $95.78 billion, a price-to-earnings ratio of -60.83 and a beta of 1.18. The company’s 50-day simple moving average is $108.72 and its two-hundred day simple moving average is $114.56.

Micron Technology (NASDAQ:MU) last issued 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. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s revenue was up 81.5% compared to the same quarter last year. During the same period last year, the company posted ($1.57) earnings per share. Equities analysts forecast that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MU. Needham & Company LLC lowered their price target on Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Susquehanna lowered their target price on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a report on Thursday, August 22nd. UBS Group cut their price target on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. TD Cowen raised their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Wolfe Research upped their target price on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.12.

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.