Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Certified Advisory Corp

Certified Advisory Corp cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 21.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,832 shares of the semiconductor manufacturer’s stock after selling 1,283 shares during the period. Certified Advisory Corp’s holdings in Micron Technology were worth $636,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hobbs Group Advisors LLC acquired a new stake in Micron Technology in the second quarter worth approximately $28,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the first quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its position in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the period. Richard W. Paul & Associates LLC lifted its position in Micron Technology by 128.6% in the second 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. Finally, LRI Investments LLC lifted its position in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, 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 SEC, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MU shares. JPMorgan Chase & Co. upped their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird increased their price objective on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Citigroup cut their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Cantor Fitzgerald increased their price objective on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Finally, Raymond James cut their price objective on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.65.

Micron Technology Trading Up 2.9 %

NASDAQ MU opened at $93.57 on Tuesday. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $103.75 billion, a PE ratio of -65.89 and a beta of 1.17. The firm’s fifty day simple moving average is $99.06 and its 200-day simple moving average is $114.79.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the business posted ($1.57) earnings per share. Micron Technology’s revenue for the quarter was up 81.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s payout ratio is -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.