Coldstream Capital Management Inc. Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Coldstream Capital Management Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 7.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,880 shares of the semiconductor manufacturer’s stock after acquiring an additional 908 shares during the period. Coldstream Capital Management Inc.’s holdings in Micron Technology were worth $1,694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AGF Management Ltd. purchased a new stake in shares of Micron Technology in the fourth quarter valued at approximately $1,170,000. Johnson Investment Counsel Inc. boosted its position in shares of Micron Technology by 66.6% during the 4th quarter. Johnson Investment Counsel Inc. now owns 5,068 shares of the semiconductor manufacturer’s stock worth $433,000 after purchasing an additional 2,026 shares in the last quarter. Jump Financial LLC grew its stake in shares of Micron Technology by 459.1% during the 4th quarter. Jump Financial LLC now owns 17,093 shares of the semiconductor manufacturer’s stock worth $1,459,000 after purchasing an additional 14,036 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of Micron Technology by 5.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 25,192 shares of the semiconductor manufacturer’s stock valued at $2,150,000 after purchasing an additional 1,362 shares in the last quarter. Finally, Westpac Banking Corp lifted its stake in shares of Micron Technology by 6.3% in the fourth quarter. Westpac Banking Corp now owns 7,586 shares of the semiconductor manufacturer’s stock valued at $647,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

MU opened at $90.65 on Thursday. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54. The company’s 50 day simple moving average is $105.98 and its 200 day simple moving average is $114.87. The stock has a market capitalization of $100.52 billion, a PE ratio of -63.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 81.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.57) EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Activity

In related 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 value of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MU. Needham & Company LLC dropped their target price on shares of Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, August 26th. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Micron Technology in a research note on Thursday, June 27th. Bank of America boosted their target price on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Citigroup upped their target price on Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, UBS Group decreased their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Micron Technology currently has an average 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.