Ameritas Investment Partners Inc. Has $5.76 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Ameritas Investment Partners Inc. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,813 shares of the semiconductor manufacturer’s stock after selling 141 shares during the period. Ameritas Investment Partners Inc.’s holdings in Micron Technology were worth $5,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC raised its holdings in shares of Micron Technology by 33.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after purchasing an additional 8,736 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new stake in Micron Technology during the 4th quarter worth about $241,000. EverSource Wealth Advisors LLC lifted its position in Micron Technology by 12.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock worth $332,000 after buying an additional 424 shares in the last quarter. Tidemark LLC acquired a new position in shares of Micron Technology during the 4th quarter worth about $25,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Micron Technology by 2.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 136,458 shares of the semiconductor manufacturer’s stock valued at $11,645,000 after acquiring an additional 3,046 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of Micron Technology in a research report on Tuesday, June 25th. Morgan Stanley dropped their price objective on shares of Micron Technology from $140.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler lifted their target price on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Bank of America increased their target price on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Stifel Nicolaus lowered their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $145.65.

Micron Technology Trading Up 1.8 %

Shares of MU stock opened at $90.90 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a 1 year low of $63.83 and a 1 year high of $157.54. The stock has a market capitalization of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17. The company’s fifty day simple moving average is $99.81 and its two-hundred day simple moving average is $114.56.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.57) earnings per share. As a group, analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Micron Technology 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.