Sigma Planning Corp Lowers Holdings in Micron Technology, Inc. (NASDAQ:MU)

Sigma Planning Corp cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 71.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,367 shares of the semiconductor manufacturer’s stock after selling 11,090 shares during the period. Sigma Planning Corp’s holdings in Micron Technology were worth $373,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after acquiring an additional 80,345 shares during the last quarter. L2 Asset Management LLC increased its stake in Micron Technology by 492.3% in the 3rd quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock worth $1,799,000 after acquiring an additional 21,979 shares during the last quarter. Invesco Ltd. increased its stake in Micron Technology by 11.8% in the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after acquiring an additional 927,302 shares during the last quarter. Merlin Capital Inc bought a new stake in Micron Technology in the 3rd quarter worth approximately $407,000. Finally, Amitell Capital Pte Ltd increased its stake in Micron Technology by 97.9% in the 3rd quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock worth $6,477,000 after acquiring an additional 47,105 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the topic of several analyst reports. Mizuho boosted their target price on Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Rosenblatt Securities reissued a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Monday, March 18th. Citigroup reissued a “buy” rating and set a $150.00 target price on shares of Micron Technology in a research report on Thursday, April 4th. UBS Group boosted their target price on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, Piper Sandler boosted their target price on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $66,901,175.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at $66,901,175.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 268,890 shares of company stock valued at $29,738,667. Company insiders own 0.32% of the company’s stock.

Micron Technology Trading Up 2.9 %

Shares of NASDAQ MU opened at $114.84 on Friday. The business has a fifty day moving average price of $105.94 and a 200 day moving average price of $88.17. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54. The stock has a market capitalization of $127.17 billion, a P/E ratio of -33.29 and a beta of 1.27. 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 (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the company posted ($2.03) EPS. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

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.