Guyasuta Investment Advisors Inc. Sells 170,105 Shares of Micron Technology, Inc. $MU

Guyasuta Investment Advisors Inc. cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 96.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,683 shares of the semiconductor manufacturer’s stock after selling 170,105 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Micron Technology were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Nuveen LLC acquired a new stake in Micron Technology during the 1st quarter worth $369,191,000. Vanguard Group Inc. grew its position in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after buying an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock valued at $922,467,000 after purchasing an additional 2,038,641 shares in the last quarter. GAMMA Investing LLC lifted its stake in Micron Technology by 10,369.6% in the first quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer’s stock valued at $162,783,000 after buying an additional 1,855,541 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock worth $590,807,000 after purchasing an additional 1,416,174 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MU shares. Bank of America raised their price target on Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday. Zacks Research upgraded Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Wedbush boosted their price target on Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday. Rosenblatt Securities upped their target price on Micron Technology from $200.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. Finally, CLSA started coverage on Micron Technology in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $155.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $184.77.

Micron Technology Stock Performance

MU opened at $157.27 on Friday. The business’s 50-day simple moving average is $128.30 and its 200 day simple moving average is $108.11. The firm has a market capitalization of $176.00 billion, a PE ratio of 20.72, a PEG ratio of 0.40 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.89 and a current ratio of 2.52. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $170.45.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The firm had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.83 billion. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s payout ratio is currently 6.06%.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 13,798 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60. Following the transaction, the chief executive officer owned 325,148 shares in the company, valued at approximately $52,739,005.60. This represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the transaction, the director owned 20,146 shares in the company, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,308 shares of company stock valued at $19,804,967 over the last 90 days. Company insiders own 0.30% of the company’s stock.

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.