Dynamic Advisor Solutions LLC Lowers Stake in Micron Technology, Inc. (NASDAQ:MU)

Dynamic Advisor Solutions LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,613 shares of the semiconductor manufacturer’s stock after selling 463 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Micron Technology were worth $790,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MU. Bluefin Capital Management LLC bought a new position in Micron Technology in the 4th quarter worth about $1,342,000. Spouting Rock Asset Management LLC grew its holdings in shares of Micron Technology by 26.0% during the fourth quarter. Spouting Rock Asset Management LLC now owns 4,193 shares of the semiconductor manufacturer’s stock valued at $358,000 after buying an additional 866 shares during the last quarter. Sunpointe LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $234,000. GLOBALT Investments LLC GA purchased a new position in Micron Technology in the 4th quarter worth approximately $4,310,000. Finally, V Square Quantitative Management LLC lifted its position in Micron Technology by 210.4% in the 4th quarter. V Square Quantitative Management LLC now owns 9,015 shares of the semiconductor manufacturer’s stock valued at $769,000 after acquiring an additional 6,111 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Up 1.2 %

Shares of MU stock opened at $106.92 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a one year low of $63.88 and a one year high of $157.54. The company’s fifty day moving average price is $96.76 and its 200-day moving average price is $114.90. The company has a market capitalization of $118.56 billion, a price-to-earnings ratio of -75.30 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue was up 93.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.21) earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Analyst Upgrades and Downgrades

MU has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Citigroup decreased their target price 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. UBS Group dropped their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Morgan Stanley boosted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Activity

In other Micron Technology 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 sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

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.