Octavia Wealth Advisors LLC Cuts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Octavia Wealth Advisors LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 14,708 shares of the semiconductor manufacturer’s stock after selling 377 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Micron Technology were worth $1,257,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fortis Capital Advisors LLC acquired a new position in Micron Technology during the 4th quarter worth $25,000. OFI Invest Asset Management acquired a new position in Micron Technology in the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology in the third quarter valued at about $28,000. Coppell Advisory Solutions LLC acquired a new stake in Micron Technology during the second quarter valued at approximately $32,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 198 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. UBS Group increased their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Cantor Fitzgerald boosted their target price on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Wells Fargo & Company raised their price target on shares of Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Needham & Company LLC boosted their price objective on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now owns 728,557 shares in the company, valued at $94,712,410. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,890 shares of company stock worth $33,354,527. Insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 0.3 %

Shares of Micron Technology stock traded down $0.41 during trading on Tuesday, hitting $120.96. The stock had a trading volume of 11,021,677 shares, compared to its average volume of 20,131,871. The stock has a 50 day simple moving average of $100.62 and a 200 day simple moving average of $85.63. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1 year low of $58.03 and a 1 year high of $130.54. The company has a market capitalization of $133.95 billion, a PE ratio of -34.85 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.03) earnings per share. On average, research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.115 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. Micron Technology’s dividend payout ratio is -13.33%.

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.