Micron Technology, Inc. $MU Shares Sold by Northern Trust Corp

by · The Markets Daily

Northern Trust Corp decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,635,547 shares of the semiconductor manufacturer’s stock after selling 76,509 shares during the period. Northern Trust Corp owned 0.95% of Micron Technology worth $924,123,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the first quarter worth $33,000. AllSquare Wealth Management LLC grew its holdings 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 acquiring 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 $36,000. Finally, Roxbury Financial LLC grew its holdings in Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the business’s stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president owned 186,353 shares in the company, valued at $20,498,830. This trade represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock valued at $34,679,277 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MU. Wedbush upped their price objective on Micron Technology from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, June 26th. Citigroup upped their target price on Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 26th. Arete Research raised Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. KeyCorp upped their target price on Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, June 26th. Finally, Bank of America upped their target price on Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $147.24.

View Our Latest Report on MU

Micron Technology Stock Up 2.2%

Shares of Micron Technology stock opened at $123.55 on Tuesday. The stock’s fifty day moving average is $118.27 and its 200-day moving average is $99.40. The firm has a market capitalization of $138.27 billion, a PE ratio of 22.26 and a beta of 1.37. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85.

Micron Technology (NASDAQ:MU – Get Free Report) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. The company 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 13.60% and a net margin of 18.41%. During the same period in the previous year, the firm earned $0.62 earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s payout ratio is presently 8.29%.

Micron Technology 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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