W.G. Shaheen & Associates DBA Whitney & Co Has $3.04 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

by · The Cerbat Gem

W.G. Shaheen & Associates DBA Whitney & Co grew its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 2.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 48,095 shares of the semiconductor manufacturer’s stock after purchasing an additional 961 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Micron Technology were worth $3,035,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Studio Investment Management LLC raised its position in shares of Micron Technology by 0.8% in the 4th quarter. Studio Investment Management LLC now owns 21,367 shares of the semiconductor manufacturer’s stock valued at $1,068,000 after buying an additional 167 shares in the last quarter. Schear Investment Advisers LLC raised its position in shares of Micron Technology by 2.4% in the 2nd quarter. Schear Investment Advisers LLC now owns 7,022 shares of the semiconductor manufacturer’s stock valued at $443,000 after buying an additional 167 shares in the last quarter. Stonebridge Capital Advisors LLC raised its position in shares of Micron Technology by 6.6% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 2,695 shares of the semiconductor manufacturer’s stock valued at $210,000 after buying an additional 168 shares in the last quarter. 9258 Wealth Management LLC raised its position in shares of Micron Technology by 0.4% in the 2nd quarter. 9258 Wealth Management LLC now owns 43,393 shares of the semiconductor manufacturer’s stock valued at $2,739,000 after buying an additional 169 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Micron Technology by 2.0% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 9,117 shares of the semiconductor manufacturer’s stock valued at $575,000 after buying an additional 177 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MU shares. Mizuho upped their price objective on shares of Micron Technology from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. Bank of America upped their price objective on shares of Micron Technology from $70.00 to $77.00 in a research report on Tuesday, October 10th. Citigroup upped their price objective on shares of Micron Technology from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Evercore ISI upped their price objective on shares of Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 26th. Finally, Wedbush reiterated an “outperform” rating and set a $80.00 price objective on shares of Micron Technology in a research report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.33.

View Our Latest Stock Report on MU

Micron Technology Trading Up 0.7 %

Shares of NASDAQ:MU traded up $0.52 during trading on Wednesday, reaching $74.21. The stock had a trading volume of 1,944,947 shares, compared to its average volume of 15,073,645. The firm’s fifty day moving average is $71.56 and its 200 day moving average is $68.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.70 and a current ratio of 4.46. Micron Technology, Inc. has a 52 week low of $48.43 and a 52 week high of $79.02. The stock has a market cap of $81.91 billion, a price-to-earnings ratio of -13.80 and a beta of 1.31.

Micron Technology (NASDAQ:MU – Get Free Report) last posted its quarterly earnings data on Wednesday, September 27th. The semiconductor manufacturer reported ($1.07) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.08. Micron Technology had a negative net margin of 37.53% and a negative return on equity of 11.65%. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the firm posted $1.36 EPS. The company’s quarterly revenue was down 39.6% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post -2.04 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Tuesday, October 10th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.62%. Micron Technology’s payout ratio is presently -8.61%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 22,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $76.94, for a total transaction of $1,692,680.00. Following the transaction, the chief executive officer now owns 748,759 shares in the company, valued at $57,609,517.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Micron Technology news, CAO Scott R. Allen sold 8,882 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $67.79, for a total transaction of $602,110.78. Following the transaction, the chief accounting officer now owns 49,575 shares in the company, valued at $3,360,689.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 22,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $76.94, for a total transaction of $1,692,680.00. Following the transaction, the chief executive officer now owns 748,759 shares in the company, valued at approximately $57,609,517.46. The disclosure for this sale can be found here. Insiders have sold 111,390 shares of company stock worth $7,962,233 in the last quarter. Company insiders own 0.32% of the company’s stock.

Micron Technology Company Profile

(Free Report)

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.

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