Micron Technology, Inc. (NASDAQ:MU) Stock Position Decreased by Cavalry Management Group LLC

Cavalry Management Group LLC lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 94.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 369 shares of the semiconductor manufacturer’s stock after selling 6,695 shares during the period. Micron Technology makes up 0.7% of Cavalry Management Group LLC’s portfolio, making the stock its 19th biggest position. Cavalry Management Group LLC’s holdings in Micron Technology were worth $49,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Atria Investments Inc raised its stake in shares of Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares during the last quarter. Aspect Partners LLC increased its holdings in Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 94 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares during the last quarter. Ameritas Advisory Services LLC lifted its stake in Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after purchasing an additional 98 shares during the last quarter. Finally, LRI Investments LLC lifted its position in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MU shares. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Stifel Nicolaus lowered their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. The Goldman Sachs Group increased their price target on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Robert W. Baird reduced their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Finally, Wolfe Research increased their target price on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.23.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $99.85 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54. The firm has a market capitalization of $110.72 billion, a price-to-earnings ratio of -70.32, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The firm has a 50 day moving average of $96.91 and a 200 day moving average of $114.99.

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

Micron Technology Announces Dividend

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