Cyndeo Wealth Partners LLC Sells 30,672 Shares of Micron Technology, Inc. (NASDAQ:MU)

Cyndeo Wealth Partners LLC lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 92.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,578 shares of the semiconductor manufacturer’s stock after selling 30,672 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Micron Technology were worth $267,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. Capital International Investors boosted its holdings in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after buying an additional 2,397,885 shares during the period. Swedbank AB grew its stake in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after buying an additional 2,187,460 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Micron Technology by 301,500.0% during the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after acquiring an additional 1,809,000 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Micron Technology by 28.9% during the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after acquiring an additional 1,695,876 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $109.08 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The firm has a market cap of $120.95 billion, a P/E ratio of -76.82 and a beta of 1.18. The firm’s fifty day moving average is $98.93 and its 200 day moving average is $114.28. Micron Technology, Inc. has a 52 week low of $63.88 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm 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 company’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.21) earnings per share. Research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company 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 0.42%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is -32.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MU shares. The Goldman Sachs Group lifted their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. TD Cowen upped their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Finally, UBS Group lowered their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.85.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is 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.