Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,804 shares of the semiconductor manufacturer’s stock after selling 158 shares during the period. Mayflower Financial Advisors LLC’s holdings in Micron Technology were worth $410,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Northern Trust Corp lifted its holdings in Micron Technology by 0.7% in the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after acquiring an additional 80,345 shares during the period. L2 Asset Management LLC lifted its stake in shares of Micron Technology by 492.3% in the 3rd quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after purchasing an additional 21,979 shares during the period. Invesco Ltd. boosted its holdings in Micron Technology by 11.8% during the third quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after buying an additional 927,302 shares in the last quarter. Merlin Capital Inc acquired a new stake in Micron Technology during the third quarter valued at $407,000. Finally, Amitell Capital Pte Ltd increased its holdings in Micron Technology by 97.9% in the third quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock valued at $6,477,000 after buying an additional 47,105 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 5.4 %

NASDAQ MU opened at $124.30 on Tuesday. Micron Technology, Inc. has a one year low of $56.01 and a one year high of $127.38. The firm has a 50 day simple moving average of $92.62 and a 200-day simple moving average of $81.39. The firm has a market cap of $137.65 billion, a price-to-earnings ratio of -36.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MUGet Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the business earned ($2.03) EPS. Micron Technology’s revenue was up 57.7% on a year-over-year basis. Equities research analysts anticipate that Micron Technology, Inc. will post 0.01 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $83.63, for a total value of $585,410.00. Following the completion of the sale, the chief executive officer now directly owns 651,759 shares in the company, valued at $54,506,605.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,890 shares of company stock valued at $26,952,017. 0.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on MU. Stifel Nicolaus lifted their price target on shares of Micron Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. TD Cowen boosted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Robert W. Baird raised their price target on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. UBS Group increased their target price on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.62.

Get Our Latest Research Report on MU

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.

See Also

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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