Commonwealth Equity Services LLC Sells 22,430 Shares of Micron Technology, Inc. (NASDAQ:MU)

Commonwealth Equity Services LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 6.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 340,115 shares of the semiconductor manufacturer’s stock after selling 22,430 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Micron Technology were worth $29,025,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Micron Technology in the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology in the 3rd quarter worth about $28,000. VisionPoint Advisory Group LLC increased its stake in Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares during the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 200 shares in the last quarter. Finally, Clear Street Markets LLC boosted its stake in shares of Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock worth $42,000 after buying an additional 251 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MU. Morgan Stanley lifted their price target on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, March 21st. Wedbush raised their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Finally, Piper Sandler increased their target price on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $122.20.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total value of $563,080.00. Following the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $63,431,525.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $63,431,525.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. Insiders have sold 323,890 shares of company stock worth $36,079,267 in the last ninety days. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Up 2.1 %

Shares of Micron Technology stock opened at $114.70 on Monday. The company’s 50-day moving average price is $108.95 and its 200-day moving average price is $89.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.03) EPS. As a group, research analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio is -13.33%.

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.