Covestor Ltd Sells 2,731 Shares of Micron Technology, Inc. (NASDAQ:MU)

Covestor Ltd lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 83.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 560 shares of the semiconductor manufacturer’s stock after selling 2,731 shares during the period. Covestor Ltd’s holdings in Micron Technology were worth $58,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Nwam LLC lifted its position in shares of Micron Technology by 50.0% in the first quarter. Nwam LLC now owns 9,604 shares of the semiconductor manufacturer’s stock valued at $1,144,000 after acquiring an additional 3,202 shares in the last quarter. Banco Santander S.A. lifted its position in shares of Micron Technology by 96.2% in the first quarter. Banco Santander S.A. now owns 94,799 shares of the semiconductor manufacturer’s stock valued at $11,176,000 after acquiring an additional 46,488 shares in the last quarter. M&G Plc purchased a new position in shares of Micron Technology in the first quarter valued at about $15,172,000. Intech Investment Management LLC lifted its position in shares of Micron Technology by 6.5% in the first quarter. Intech Investment Management LLC now owns 44,025 shares of the semiconductor manufacturer’s stock valued at $5,190,000 after acquiring an additional 2,701 shares in the last quarter. Finally, Alera Investment Advisors LLC purchased a new position in shares of Micron Technology in the first quarter valued at about $258,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 0.7 %

MU opened at $99.18 on Friday. The stock has a market cap of $109.96 billion, a price-to-earnings ratio of 145.86 and a beta of 1.18. The stock’s 50 day moving average price is $100.93 and its 200-day moving average price is $112.94. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the prior year, the firm posted ($1.21) earnings per share. The company’s quarterly revenue was up 93.3% on a year-over-year basis. On average, equities analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MU shares. Morgan Stanley boosted their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. TD Cowen boosted their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Citigroup decreased their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, Raymond James boosted their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.