Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 15.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 105,990 shares of the semiconductor manufacturer’s stock after selling 19,000 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Micron Technology were worth $13,941,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology in the first quarter valued at about $25,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology in the second quarter valued at approximately $28,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $29,000. Valued Wealth Advisors LLC lifted its position in shares of Micron Technology by 230.7% during 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 in the last quarter. Finally, Richard W. Paul & Associates LLC boosted its stake in shares of Micron Technology by 128.6% in the second 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 period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the topic of several analyst reports. Cantor Fitzgerald lifted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Bank of America boosted their price target on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley raised their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

Micron Technology Trading Down 2.2 %

Shares of NASDAQ:MU opened at $107.50 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $97.77 and its 200 day moving average price is $114.60. The company has a market cap of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the company posted ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) 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.