Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 20.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,868 shares of the semiconductor manufacturer’s stock after selling 719 shares during the period. Stonegate Investment Group LLC’s holdings in Micron Technology were worth $297,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MU. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the 1st quarter worth $25,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology in the second quarter valued at about $28,000. Valued Wealth Advisors LLC lifted 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 valued at $29,000 after acquiring an additional 173 shares during the period. Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Finally, Richard W. Paul & Associates LLC grew its holdings in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $111.15 on Friday. The company has a market cap of $123.25 billion, a price-to-earnings ratio of -78.27 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock’s 50-day moving average is $98.64 and its 200-day moving average is $114.48.

Micron Technology (NASDAQ:MU) last announced 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 net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the company posted ($1.21) earnings per share. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. Equities analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

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 given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Ratings Changes

A number of research firms have commented on MU. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. Stifel Nicolaus lowered their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. KeyCorp reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $140.00 to $67.00 in a research note 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’s stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

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.