Columbia Advisory Partners LLC Decreases Position in Micron Technology, Inc. $MU

Columbia Advisory Partners LLC decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,890 shares of the semiconductor manufacturer’s stock after selling 117 shares during the quarter. Columbia Advisory Partners LLC’s holdings in Micron Technology were worth $479,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MU. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the first quarter worth approximately $33,000. AllSquare Wealth Management LLC increased its position in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $35,000 after buying an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology during the first quarter worth approximately $36,000. Hilltop National Bank acquired a new position in Micron Technology during the second quarter worth approximately $37,000. Finally, Saudi Central Bank acquired a new position in Micron Technology during the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president owned 131,580 shares of the company’s stock, valued at $21,584,383.20. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark J. Murphy sold 34,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,956 shares of company stock worth $22,841,025. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MU shares. Wells Fargo & Company lifted their price target on Micron Technology from $170.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. lifted their price target on Micron Technology from $185.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Susquehanna lifted their price target on Micron Technology from $160.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, September 17th. Stifel Nicolaus boosted their target price on Micron Technology from $173.00 to $195.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Wall Street Zen lowered Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 4th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $190.48.

Micron Technology Trading Up 5.8%

NASDAQ:MU opened at $196.54 on Thursday. The firm has a market cap of $220.61 billion, a P/E ratio of 25.89, a PEG ratio of 0.41 and a beta of 1.56. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $139.60 and its 200-day simple moving average is $112.59. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $201.00.

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 issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio is currently 6.06%.

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.