Nemes Rush Group LLC Invests $49,000 in Micron Technology, Inc. (NASDAQ:MU)

Nemes Rush Group LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 375 shares of the semiconductor manufacturer’s stock, valued at approximately $49,000.

Other hedge funds have also bought and sold shares of the company. Magnolia Capital Advisors LLC bought a new stake in Micron Technology in the second quarter worth approximately $6,342,000. Creative Planning grew its position in shares of Micron Technology by 12.4% during the 2nd quarter. Creative Planning now owns 149,606 shares of the semiconductor manufacturer’s stock worth $19,678,000 after buying an additional 16,463 shares during the period. Ascent Group LLC increased its stake in shares of Micron Technology by 4.2% in the 2nd quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer’s stock valued at $435,000 after acquiring an additional 133 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Micron Technology by 11.3% during the 2nd quarter. SkyView Investment Advisors LLC now owns 6,455 shares of the semiconductor manufacturer’s stock valued at $849,000 after acquiring an additional 653 shares during the period. Finally, Kathmere Capital Management LLC boosted its stake in Micron Technology by 18.4% during the second quarter. Kathmere Capital Management LLC now owns 2,525 shares of the semiconductor manufacturer’s stock worth $332,000 after acquiring an additional 392 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald lifted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday. Wedbush reissued an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday. TD Cowen upped their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, KeyCorp reduced their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.38.

Micron Technology Trading Down 2.2 %

Shares of Micron Technology stock opened at $107.50 on Monday. The firm has a market cap of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The stock has a fifty day moving average price of $97.63 and a 200-day moving average price of $114.96.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.21) earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

About Micron Technology

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.