Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Quilter Plc

by · The Markets Daily

Quilter Plc trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 1.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 173,119 shares of the semiconductor manufacturer’s stock after selling 3,137 shares during the quarter. Quilter Plc’s holdings in Micron Technology were worth $15,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MU. Xcel Wealth Management LLC increased its holdings in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 108 shares in the last quarter. Twin Capital Management Inc. boosted its position in shares of Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock worth $1,688,000 after buying an additional 108 shares during the period. Cim Investment Management Inc. grew its stake in shares of Micron Technology by 0.5% in the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock valued at $1,941,000 after buying an additional 114 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Micron Technology by 1.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock valued at $883,000 after buying an additional 119 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Down 1.0%

Micron Technology stock opened at $126.00 on Friday. The stock has a market cap of $140.81 billion, a PE ratio of 22.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99. The stock’s fifty day moving average is $97.59 and its two-hundred day moving average is $94.05. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $137.39.

Micron Technology (NASDAQ:MU – Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. During the same quarter last year, the company earned $0.62 EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. Micron Technology’s payout ratio is currently 11.03%.

Analyst Ratings Changes

MU has been the topic of several research reports. Robert W. Baird increased their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Rosenblatt Securities increased their price target on shares of Micron Technology from $172.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC raised their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus lifted their price objective on shares of Micron Technology from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $144.67.

Read Our Latest Research Report on Micron Technology

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares of the company’s stock, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 2,290 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $120.31, for a total value of $275,509.90. Following the completion of the sale, the chief executive officer now owns 384,885 shares of the company’s stock, valued at approximately $46,305,514.35. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,404 shares of company stock worth $8,509,167. 0.30% of the stock is currently owned by insiders.

Micron Technology Company Profile

(Free Report)

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.

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