Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Guyasuta Investment Advisors Inc.

Guyasuta Investment Advisors Inc. lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,386 shares of the semiconductor manufacturer’s stock after selling 715 shares during the period. Micron Technology makes up approximately 1.3% of Guyasuta Investment Advisors Inc.’s portfolio, making the stock its 25th biggest holding. Guyasuta Investment Advisors Inc.’s holdings in Micron Technology were worth $19,733,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Tidemark LLC acquired a new position in Micron Technology during the fourth quarter worth $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC acquired a new stake in Micron Technology in the fourth quarter valued at $29,000. VisionPoint Advisory Group LLC grew its holdings in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 198 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in Micron Technology in the first quarter valued at $39,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded down $0.70 on Friday, hitting $131.53. The company’s stock had a trading volume of 38,080,532 shares, compared to its average volume of 20,738,896. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $157.54. The company has a market capitalization of $145.65 billion, a price-to-earnings ratio of -92.63 and a beta of 1.21. The stock’s 50-day moving average is $128.07 and its two-hundred day moving average is $106.08. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. Micron Technology had a negative return on equity of 4.03% and a negative net margin of 7.20%. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the business posted ($1.57) earnings per share. The company’s revenue for the quarter was up 81.5% compared to the same quarter last year. On average, equities research analysts forecast that Micron Technology, Inc. will post 0.35 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio is presently -32.39%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $122.09, for a total value of $854,630.00. Following the transaction, the chief executive officer now directly owns 743,557 shares in the company, valued at approximately $90,780,874.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now owns 153,387 shares in the company, valued at $17,723,867.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total value of $854,630.00. Following the transaction, the chief executive officer now directly owns 743,557 shares in the company, valued at $90,780,874.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 304,840 shares of company stock worth $37,961,924. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of several recent research reports. Cantor Fitzgerald upped their price objective on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Bank of America upped their price objective on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Raymond James increased their target price on Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Micron Technology in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.52.

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.