Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Successful Portfolios LLC

Successful Portfolios LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,932 shares of the semiconductor manufacturer’s stock after selling 399 shares during the quarter. Successful Portfolios LLC’s holdings in Micron Technology were worth $699,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MU. Revolve Wealth Partners LLC boosted its holdings in shares of Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after acquiring an additional 98 shares in the last quarter. Sandy Spring Bank boosted its position in shares of Micron Technology by 11.1% during the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after purchasing an additional 130 shares in the last quarter. First Affirmative Financial Network grew its stake in shares of Micron Technology by 4.7% in the 1st quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock worth $347,000 after purchasing an additional 131 shares during the last quarter. HMS Capital Management LLC grew its stake in shares of Micron Technology by 0.7% in the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after purchasing an additional 138 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Micron Technology by 11.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock worth $121,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley upped their target price on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 24th. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Mizuho boosted their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Cantor Fitzgerald raised their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $158.52.

Micron Technology Stock Down 0.5 %

Shares of MU opened at $131.53 on Monday. 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 50-day simple moving average of $128.07 and a 200-day simple moving average of $106.46. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $157.54. The firm has a market capitalization of $145.85 billion, a P/E ratio of -92.63 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the company posted ($1.57) earnings per share. Micron Technology’s revenue was up 81.5% on a year-over-year basis. On average, equities research analysts expect that Micron Technology, Inc. will post 0.39 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.35%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Activity at Micron Technology

In other news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Scott J. Deboer sold 40,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The disclosure for this sale can be found here. Insiders have sold a total of 304,840 shares of company stock valued at $37,961,924 in the last 90 days. 0.32% of the stock is owned by corporate insiders.

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.