Micron Technology, Inc. (NASDAQ:MU) Holdings Trimmed by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,294 shares of the semiconductor manufacturer’s stock after selling 2,254 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Micron Technology were worth $2,012,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MU. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at $25,000. Pingora Partners LLC purchased a new stake in Micron Technology in the 4th quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology in the 2nd quarter worth about $28,000. Frank Rimerman Advisors LLC purchased a new stake in Micron Technology in the 4th quarter worth about $29,000. Finally, Valued Wealth Advisors LLC lifted its stake in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Piper Sandler increased their price objective on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Susquehanna cut their price target on Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research note on Thursday, August 22nd. Raymond James cut their price target on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. Bank of America raised their price target on Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.65.

Micron Technology Stock Up 1.8 %

Shares of MU stock opened at $90.90 on Monday. Micron Technology, Inc. has a 12 month low of $63.83 and a 12 month high of $157.54. The firm has a market cap of $100.79 billion, a PE ratio of -64.01 and a beta of 1.17. The stock has a 50 day moving average of $99.81 and a 200-day moving average of $114.83. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.57) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

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