FourThought Financial LLC Lowers Holdings in Micron Technology, Inc. (NASDAQ:MU)

FourThought Financial LLC trimmed its position in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 20.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,246 shares of the semiconductor manufacturer’s stock after selling 317 shares during the quarter. FourThought Financial LLC’s holdings in Micron Technology were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Stonebridge Capital Advisors LLC lifted its position in Micron Technology by 6.6% during the first quarter. Stonebridge Capital Advisors LLC now owns 2,695 shares of the semiconductor manufacturer’s stock worth $210,000 after buying an additional 168 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in Micron Technology by 4.0% during the third quarter. Orion Portfolio Solutions LLC now owns 4,703 shares of the semiconductor manufacturer’s stock worth $236,000 after buying an additional 181 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Micron Technology by 3.5% during the first quarter. Evergreen Capital Management LLC now owns 5,682 shares of the semiconductor manufacturer’s stock worth $443,000 after buying an additional 191 shares in the last quarter. Beta Wealth Group Inc. lifted its position in Micron Technology by 4.4% during the third quarter. Beta Wealth Group Inc. now owns 4,700 shares of the semiconductor manufacturer’s stock worth $235,000 after buying an additional 200 shares in the last quarter. Finally, Certified Advisory Corp lifted its position in Micron Technology by 1.8% during the first quarter. Certified Advisory Corp now owns 11,520 shares of the semiconductor manufacturer’s stock worth $897,000 after buying an additional 203 shares in the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $62.23, for a total value of $1,244,600.00. Following the transaction, the executive vice president now directly owns 248,340 shares of the company’s stock, valued at approximately $15,454,198.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $62.23, for a total value of $1,244,600.00. Following the transaction, the executive vice president now owns 248,340 shares in the company, valued at approximately $15,454,198.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $61.91, for a total value of $1,485,840.00. Following the sale, the senior vice president now directly owns 118,885 shares of the company’s stock, valued at $7,360,170.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,000 shares of company stock valued at $3,982,190. 0.33% of the stock is currently owned by insiders.

Micron Technology Trading Up 0.2 %

NASDAQ:MU opened at $56.66 on Friday. The firm has a market cap of $61.83 billion, a PE ratio of 10.28 and a beta of 1.39. The stock has a fifty day moving average price of $58.60 and a 200 day moving average price of $55.78. The company has a current ratio of 3.51, a quick ratio of 2.23 and a debt-to-equity ratio of 0.20. Micron Technology, Inc. has a 12-month low of $48.43 and a 12-month high of $86.24.

Micron Technology (NASDAQ:MU – Get Rating) last announced its quarterly earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the firm earned $2.07 earnings per share. The firm’s quarterly revenue was down 46.9% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology, Inc. will post -2.71 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Tuesday, January 3rd were paid a $0.115 dividend. The ex-dividend date was Friday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.81%. Micron Technology’s dividend payout ratio is presently 8.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MU shares. Stifel Nicolaus reduced their price objective on Micron Technology from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, December 22nd. Wells Fargo & Company cut their target price on Micron Technology from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, December 7th. Deutsche Bank Aktiengesellschaft cut Micron Technology from a “buy” rating to a “hold” rating and cut their target price for the stock from $60.00 to $55.00 in a research note on Monday, December 12th. Mizuho raised Micron Technology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $72.00 in a research note on Friday, February 10th. Finally, Morgan Stanley cut their target price on Micron Technology from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Thursday, December 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.26.

Micron Technology Company Profile

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Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.