Gunderson Capital Management Inc. Sells 4,568 Shares of Micron Technology, Inc. (NASDAQ:MU)

Gunderson Capital Management Inc. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 7.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 58,240 shares of the semiconductor manufacturer’s stock after selling 4,568 shares during the period. Micron Technology comprises 2.6% of Gunderson Capital Management Inc.’s investment portfolio, making the stock its 16th biggest position. Gunderson Capital Management Inc.’s holdings in Micron Technology were worth $6,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DecisionPoint Financial LLC purchased a new position in Micron Technology in the first quarter valued at approximately $25,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the second quarter valued at $28,000. Valued Wealth Advisors LLC raised its stake in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the period. Davis Capital Management purchased a new stake in Micron Technology during the 3rd quarter worth about $30,000. Finally, Richard W. Paul & Associates LLC boosted its stake in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 1.2 %

Shares of MU traded down $1.18 during mid-day trading on Wednesday, reaching $101.36. 8,451,733 shares of the company’s stock traded hands, compared to its average volume of 22,270,443. 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’s 50-day moving average is $96.56 and its two-hundred day moving average is $115.13. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The stock has a market cap of $112.39 billion, a P/E ratio of -70.83, a P/E/G ratio of 0.20 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during 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 quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.21) EPS. Research analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is presently -32.39%.

Wall Street Analysts Forecast Growth

MU has been the subject of several research reports. Piper Sandler upped their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. TD Cowen raised their price objective on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Bank of America upped their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. KeyCorp cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Robert W. Baird decreased their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. One equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

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.