Toroso Investments LLC Sells 2,476 Shares of Micron Technology, Inc. (NASDAQ:MU)

Toroso Investments LLC lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,722 shares of the semiconductor manufacturer’s stock after selling 2,476 shares during the quarter. Toroso Investments LLC’s holdings in Micron Technology were worth $3,483,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Caprock Group LLC bought a new stake in shares of Micron Technology in the 1st quarter worth about $899,000. D.B. Root & Company LLC bought a new stake in shares of Micron Technology in the 1st quarter worth about $292,000. MGO One Seven LLC bought a new stake in shares of Micron Technology in the 1st quarter worth about $371,000. SVB Wealth LLC lifted its holdings in shares of Micron Technology by 16.0% in the 4th quarter. SVB Wealth LLC now owns 20,593 shares of the semiconductor manufacturer’s stock worth $1,029,000 after acquiring an additional 2,847 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Micron Technology by 3.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 6,204 shares of the semiconductor manufacturer’s stock worth $310,000 after acquiring an additional 189 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $71.15, for a total value of $498,050.00. Following the completion of the sale, the chief executive officer now directly owns 582,862 shares in the company, valued at approximately $41,470,631.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $71.15, for a total value of $498,050.00. Following the sale, the chief executive officer now directly owns 582,862 shares of the company’s stock, valued at approximately $41,470,631.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael W. Bokan sold 45,456 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $70.87, for a total transaction of $3,221,466.72. Following the completion of the sale, the senior vice president now directly owns 150,086 shares in the company, valued at $10,636,594.82. The disclosure for this sale can be found here. Insiders sold 226,810 shares of company stock worth $15,577,970 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MU. BMO Capital Markets raised their target price on shares of Micron Technology from $67.00 to $80.00 in a report on Friday, May 26th. Citigroup raised their price target on shares of Micron Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Raymond James raised their price target on shares of Micron Technology from $70.00 to $76.00 in a research note on Thursday, June 29th. Stifel Nicolaus raised their price target on shares of Micron Technology from $55.00 to $65.00 in a research note on Monday, June 26th. Finally, Wolfe Research began coverage on shares of Micron Technology in a research note on Wednesday, July 19th. They issued an “outperform” rating and a $80.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $73.86.

Micron Technology Stock Up 1.3 %

NASDAQ:MU opened at $71.79 on Friday. Micron Technology, Inc. has a fifty-two week low of $48.43 and a fifty-two week high of $74.77. The stock has a market capitalization of $78.63 billion, a P/E ratio of -26.79 and a beta of 1.36. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.64 and a current ratio of 4.26. The company’s 50-day simple moving average is $66.74 and its 200-day simple moving average is $64.04.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 28th. The semiconductor manufacturer reported ($1.43) EPS for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.18. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Micron Technology had a negative net margin of 16.02% and a negative return on equity of 5.40%. Micron Technology’s revenue for the quarter was down 56.6% on a year-over-year basis. During the same period last year, the business earned $2.50 EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post -5.07 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, July 10th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Friday, July 7th. Micron Technology’s dividend payout ratio (DPR) is presently -17.16%.

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 comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.