Micron Technology, Inc. $MU Shares Sold by Global Assets Advisory LLC

Global Assets Advisory LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 52.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,308 shares of the semiconductor manufacturer’s stock after selling 2,556 shares during the quarter. Global Assets Advisory LLC’s holdings in Micron Technology were worth $279,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. HMS Capital Management LLC grew its position in Micron Technology by 0.6% in the 2nd quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer’s stock worth $2,375,000 after purchasing an additional 107 shares during the last quarter. D.B. Root & Company LLC grew its holdings in Micron Technology by 3.7% in the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock worth $262,000 after buying an additional 108 shares in the last quarter. Werlinich Asset Management LLC increased its position in Micron Technology by 1.1% in the 2nd quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer’s stock valued at $1,317,000 after acquiring an additional 115 shares during the period. Rise Advisors LLC increased its position in Micron Technology by 5.3% in the 1st quarter. Rise Advisors LLC now owns 2,373 shares of the semiconductor manufacturer’s stock valued at $206,000 after acquiring an additional 120 shares during the period. Finally, Orca Wealth Management LLC raised its stake in Micron Technology by 1.5% during the 1st quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer’s stock valued at $737,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $190.96 on Tuesday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $201.00. The business’s fifty day moving average is $136.49 and its two-hundred day moving average is $111.49. The stock has a market capitalization of $213.71 billion, a P/E ratio of 25.16, a P/E/G ratio of 0.41 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend 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%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MU. KeyCorp lifted their price objective on shares of Micron Technology from $160.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Morgan Stanley upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $160.00 to $220.00 in a research report on Monday. Susquehanna increased their price objective on shares of Micron Technology from $160.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Micron Technology in a research note on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $187.08.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 15,000 shares of Micron Technology stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $180.86, for a total transaction of $2,712,900.00. Following the transaction, the chief executive officer owned 310,148 shares in the company, valued at approximately $56,093,367.28. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the transaction, the director owned 96,031 shares in the company, valued at $14,950,106.08. This represents a 5.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,456 shares of company stock worth $15,698,445 over the last three months. 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.