GFG Capital LLC Sells 744 Shares of Micron Technology, Inc. (NASDAQ:MU)

GFG Capital LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,884 shares of the semiconductor manufacturer’s stock after selling 744 shares during the quarter. GFG Capital LLC’s holdings in Micron Technology were worth $2,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Tidemark LLC bought a new stake in Micron Technology in the fourth quarter worth about $25,000. DecisionPoint Financial LLC purchased a new position in Micron Technology during the first quarter worth approximately $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the 4th quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the 2nd quarter valued at about $28,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. TD Cowen raised their price target on shares of Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Needham & Company LLC increased their target price on Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. increased their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, Citigroup upped their price target on Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.92.

Micron Technology Trading Down 0.6 %

Shares of Micron Technology stock traded down $0.64 on Tuesday, hitting $107.99. 16,033,111 shares of the company’s stock traded hands, compared to its average volume of 21,381,037. The company has a market capitalization of $119.74 billion, a price-to-earnings ratio of -76.46 and a beta of 1.18. The company has a fifty day moving average of $121.29 and a two-hundred day moving average of $113.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a one year low of $62.63 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the business earned ($1.57) EPS. Micron Technology’s revenue was up 81.5% compared to the same quarter last year. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is presently -32.39%.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $132.14, for a total value of $924,980.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $95,015,134.86. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $132.14, for a total transaction of $924,980.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $95,015,134.86. The disclosure for this sale can be found here. Insiders sold 60,174 shares of company stock worth $8,635,073 over the last 90 days. 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.