Sunbelt Securities Inc. Sells 377 Shares of Micron Technology, Inc. (NASDAQ:MU)

Sunbelt Securities Inc. trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 28.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 968 shares of the semiconductor manufacturer’s stock after selling 377 shares during the quarter. Sunbelt Securities Inc.’s holdings in Micron Technology were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MU. Hobbs Group Advisors LLC bought a new stake in Micron Technology in the 2nd quarter valued at $28,000. DecisionPoint Financial LLC bought a new stake in shares of Micron Technology in the first quarter valued at about $25,000. Valued Wealth Advisors LLC grew its position in 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 buying an additional 173 shares in the last quarter. Richard W. Paul & Associates LLC increased its stake in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the period. Finally, LRI Investments LLC lifted its position in shares of Micron Technology by 57.2% in the 2nd 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 period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of a number of research reports. Rosenblatt Securities boosted their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. Morgan Stanley raised their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Wells Fargo & Company lowered their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. 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 note 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.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $143.23.

Insider Buying and Selling at Micron Technology

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

Micron Technology Trading Up 2.0 %

MU stock opened at $101.82 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. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The company has a market cap of $112.90 billion, a P/E ratio of -71.70, a PEG ratio of 0.20 and a beta of 1.17. The business has a fifty day moving average of $96.80 and a 200-day moving average of $114.90.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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 analyst estimates of $7.65 billion. During the same period in the prior year, the business posted ($1.21) earnings per share. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. As a group, equities research analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s dividend payout ratio is presently -32.39%.

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.