Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,238 shares of the semiconductor manufacturer’s stock after selling 919 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Micron Technology were worth $874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. FMR LLC lifted its position in Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares during the period. Wellington Management Group LLP increased its stake in Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after buying an additional 5,257,201 shares during the period. Morgan Stanley raised its position in Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after buying an additional 2,852,688 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Micron Technology by 125.0% in the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after acquiring an additional 2,523,267 shares during the period. Finally, Phoenix Holdings Ltd. increased its stake in shares of Micron Technology by 8,336.6% during the third quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock worth $117,762,000 after acquiring an additional 1,753,262 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MU. Stifel Nicolaus reissued a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Friday, April 12th. Morgan Stanley raised their price target on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. UBS Group raised their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Piper Sandler raised their target price on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total value of $574,210.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $64,685,330.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total value of $574,210.00. Following the sale, the chief executive officer now owns 788,557 shares in the company, valued at approximately $64,685,330.71. The disclosure for this sale can be found here. Insiders have sold 316,890 shares of company stock worth $35,485,387 over the last three months. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Up 0.1 %

Shares of MU stock traded up $0.14 on Wednesday, reaching $119.35. 902,215 shares of the company’s stock traded hands, compared to its average volume of 19,983,662. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54. The company has a market capitalization of $131.76 billion, a P/E ratio of -34.55 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The business’s 50 day moving average price is $110.11 and its two-hundred day moving average price is $90.70.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

Micron Technology Company 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.