Algert Global LLC Sells 2,530 Shares of Micron Technology, Inc. (NASDAQ:MU)

Algert Global LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 50.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,468 shares of the semiconductor manufacturer’s stock after selling 2,530 shares during the quarter. Algert Global LLC’s holdings in Micron Technology were worth $325,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. DecisionPoint Financial LLC bought a new position in Micron Technology during the first quarter worth about $25,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $28,000. Valued Wealth Advisors LLC increased its position 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 worth $29,000 after purchasing an additional 173 shares in the last quarter. Richard W. Paul & Associates LLC lifted its holdings in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. Finally, LRI Investments LLC boosted 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 valued at $36,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MU. Robert W. Baird reduced their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. UBS Group reduced their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Susquehanna lowered their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Rosenblatt Securities increased their price objective on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Raymond James boosted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. One investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Micron Technology Stock Down 0.4 %

Shares of Micron Technology stock opened at $102.54 on Wednesday. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54. 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 company has a market capitalization of $113.70 billion, a P/E ratio of -72.01, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. The business has a 50-day moving average of $96.56 and a two-hundred day moving average of $115.19.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period last year, the company posted ($1.21) EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

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

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now 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 SEC, which is available through this link. Corporate insiders own 0.32% of the company’s stock.

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.