Micron Technology, Inc. (NASDAQ:MU) Shares Sold by ORG Wealth Partners LLC

by · The Markets Daily

ORG Wealth Partners LLC trimmed its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,206 shares of the semiconductor manufacturer’s stock after selling 106 shares during the quarter. ORG Wealth Partners LLC’s holdings in Micron Technology were worth $101,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC increased its holdings in shares of Micron Technology by 7,328.6% in the second quarter. Quest Partners LLC now owns 520 shares of the semiconductor manufacturer’s stock valued at $68,000 after buying an additional 513 shares in the last quarter. AGF Management Ltd. increased its holdings in shares of Micron Technology by 38.1% in the second quarter. AGF Management Ltd. now owns 18,449 shares of the semiconductor manufacturer’s stock valued at $2,427,000 after buying an additional 5,092 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Micron Technology by 40.2% in the second quarter. LPL Financial LLC now owns 687,438 shares of the semiconductor manufacturer’s stock valued at $90,419,000 after buying an additional 196,949 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Micron Technology by 158.8% in the second quarter. American Century Companies Inc. now owns 561,783 shares of the semiconductor manufacturer’s stock valued at $73,891,000 after buying an additional 344,720 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Micron Technology in the second quarter valued at $808,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on MU shares. Wells Fargo & Company cut their target price on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. TD Cowen cut their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus cut their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Finally, Morgan Stanley cut their target price on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $135.24.

View Our Latest Analysis on Micron Technology

Micron Technology Trading Down 0.1 %

Shares of NASDAQ:MU opened at $99.34 on Friday. The stock has a market capitalization of $110.68 billion, a PE ratio of 146.09 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The firm has a fifty day moving average price of $98.68 and a 200 day moving average price of $103.69. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the company earned ($0.95) earnings per share. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

About Micron Technology

(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.

Further Reading

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Free Report).